IndoAgri sinks deeper into the red with H1 loss of 429.42b rupiah
INDOFOOD Agri Resources (IndoAgri) saw its net loss widen to 429.42 billion rupiah (S$41 million) for the half year ended June 30, from 274.33 billion rupiah a year ago.
This was largely attributable to loss arising from changes in fair value of the agribusiness' biological assets, higher share of losses of associate companies, and higher income tax expenses, the company said in a regulatory filing on Thursday.
Loss per share (LPS) stood at 308 rupiah for the six-month period, compared with LPS of 197 rupiah in the preceding year.
Meanwhile, revenue for H1 2020 rose 5.7 per cent to 6.87 trillion rupiah, from 6.5 trillion rupiah a year ago. This was due to higher selling prices of palm, as well as edible oils and fats products, the company said.
IndoAgri shares last traded at 29 Singapore cents on Tuesday, up 0.5 cent or 1.8 per cent.
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