InfoSAWIT, JAKARTA – Indofood Agri Resources (5JS -1.69%) got net profits for about Rp 297,9 billion (US$ 24,5 million) in the first semester of 2024 that ended on 30 June, it increased 236 percent to Rp 88,6 billion in the same period last year.
The increasing profits happened for the increasing gross net profit from plantation division, biological asset profits, the luck from currency exchange, and the decreasing financial burden, as the entity of agribusiness mentioned, Wednesday (31 July).
The company mentioned after the 2022 extreme volatility, vegetable oils, including palm oil showed stable with the moving fluctuation which was much closer in 2023.
The company said, “As the commodity price got more expensive, the company got better results in the first semester of 2024,” the company mentioned, as InfoSAWIT quoted from Business Recorder, Friday (2/8/2024).
The income got decreased 7,3 percent to be Rp 7,1 trillion from Rp 7,6 trillion in the previous year. This happened for the crude palm oil (CPO) and other derivative products volumes got decreased and other vegetable oils and fat did too.
Indofood Agri Resources said that the commodity price would be very fluctuative when the weather and geopolitics in the globe are uncertain. The demands and prospect would be in low numbers because of sluggish economy and other macro – economy factors in the globe.
The profits per share got increased Rp 213 million, increased from Rp 64 million in the previous year. (T2)
