IndoAgri's 1Q earnings plunge to S$4.8 mil on commodity price declines

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SINGAPORE (April 30): Integrated agribusiness group Indofood Agri Resources (IndoAgri) reported earnings of Rp 49.8 billion (S$4.8 million) for the 1Q18 ended March, down more than threefold from Rp 170.6 billion a year ago, on lower sales volume and selling prices of palm products.

Revenue for the quarter fell 27.1% to Rp 3.2 trillion, from Rp 4.4 trillion in 1Q17, after lower sales contribution from its plantation and edible oils & fats (EOF) divisions. 

Revenue from the plantation division fell 34% due to to lower average selling prices (ASPs) and sales volume of crude palm oil (CPO), palm kernel and rubber. Revenue from EOF also fell...(click on link for full story on theedgesingapore.com)