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Japfa Comfeed Indonesia swings to loss in Q2

PT Japfa Comfeed Indonesia Tbk said its second-quarter normalized net income came to a loss of 2.60 rupiah per share, compared with 18.87 rupiah per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 27.66 billion rupiah, compared with income of 200.82 billion rupiah in the prior-year period.

The normalized profit margin declined to negative 0.4% from 3.1% in the year-earlier period.

Total revenue fell on an annual basis to 6.210 trillion rupiah from 6.518 trillion rupiah, and total operating expenses came to 5.969 trillion rupiah, compared with 5.914 trillion rupiah in the prior-year period.

Reported net income came to a loss of 50.39 billion rupiah, or a loss of 4.74 rupiah per share, compared to income of 273.05 billion rupiah, or 25.66 rupiah per share, in the year-earlier period.

As of July 28, US$1 was equivalent to 13,435 rupiah.