Indofood Agri's earnings dipped 22% to $32 million in the fourth quarter ended Dec 31, 2015, from $41 million a year ago.
This was despite the plantation group reported higher sales volume of palm products and a reversal of foreign exchange losses.
Revenue fell 9.8% to $387 million from $429 million previously, due to lower revenue contribution from its edible oils & fats and plantation divisions.
Its plantation division reported lower revenue contribution, mainly due to lower average selling prices of palm products.
Meanwhile, IndoAgri achieved solid production growth as FY2015 fresh fruit bunch nucleus and crude palm oil production increased 5% year-on-year to 3.4 million tones and one million tonnes respectively.
As at December 2015, the group has 59,000 hectares of immature oil palm plantation, ensuring future volume growth.
IndoAgri says its outlook for the agribusiness remains optimistic, but it is cautiously managing its activities during this challenging period to mitigate risks and exposures.
Shares of IndoAgri ended lower on Thursday at 43.5 cents.
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This was despite the plantation group reported higher sales volume of palm products and a reversal of foreign exchange losses.
Revenue fell 9.8% to $387 million from $429 million previously, due to lower revenue contribution from its edible oils & fats and plantation divisions.
Its plantation division reported lower revenue contribution, mainly due to lower average selling prices of palm products.
Meanwhile, IndoAgri achieved solid production growth as FY2015 fresh fruit bunch nucleus and crude palm oil production increased 5% year-on-year to 3.4 million tones and one million tonnes respectively.
As at December 2015, the group has 59,000 hectares of immature oil palm plantation, ensuring future volume growth.
IndoAgri says its outlook for the agribusiness remains optimistic, but it is cautiously managing its activities during this challenging period to mitigate risks and exposures.
Shares of IndoAgri ended lower on Thursday at 43.5 cents.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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