Japfa rebounds to $153.3m profit in FY2024, reversing $41.6m loss

 Revenue also rose 4.3% to over $6.2b.

Agri-food company Japfa reported a net profit of $153.3m (USD113.6m) in FY2024, reversing a $41.6m (USD30.8m) loss in FY2023.

The group’s revenue rose 4.3% to over $6.2b (USD4.6b), whilst operating profit surged to $553.2m (USD410m) from $160.3m (USD118.8m) a year earlier.

Japfa attributed its strong performance to stable prices for day-old chicks (DOC) and broilers in Indonesia, supported by a balanced supply-demand environment throughout the year. Additionally, higher swine prices in Vietnam, driven by a supply drop due to African Swine Fever (ASF), and lower feed costs across key markets contributed to the recovery.

Excluding foreign exchange effects, Japfa’s core PATMI rebounded to $167.2m (USD123.9m) in FY2024, reversing a negative $38m (USD28.2m) in the prior year.