JPFA — Net profit grew 1,704% yoy on 1H23' low base

JPFA — Net profit grew 1,704% yoy on 1H23' low base Japfa (JPFA) had a significant increase in 1H24' net profit, which grew by 1,704% yoy to IDR1.47 tn as a 14.45% yoy higher sales at IDR27.64 tn. The key contributors to this performance were its commercial farming, livestock feed, and aquaculture segments. Although with a 7.18% yoy higher COGS, JPFA's gross profit still grew 59.49% yoy to IDR5.35 tn. Stable local corn prices, a critical component of livestock feed, have been instrumental in maintaining these strong profit margins. Furthermore, JPFA has allocated IDR2 tn for capex to expand downstream production capacity and enhance market presence, particularly in regions with high growth potential. (Source : Bisnis Indonesia)