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Indofood Agri Resources profit misses consensus by 19.5% in Q4

Indofood Agri Resources Ltd. said its fourth-quarter normalized net income was 149.92 rupiah per share, compared with the S&P Capital IQ consensus estimate of 186.19 rupiah per share.

EPS fell year over year from 154.75 rupiah.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 213.85 billion rupiah, a decline from 219.42 billion rupiah in the year-earlier period.

The normalized profit margin declined to 4.3% from 5.2% in the year-earlier period.

Total revenue declined 10.0% year over year to 3.775 trillion rupiah from 4.192 trillion rupiah, and total operating expenses decreased year over year to 3.250 trillion rupiah from 3.308 trillion rupiah.

Reported net income declined 22.5% year over year to 174.64 billion rupiah, or 122.43 rupiah per share, from 225.45 billion rupiah, or 159.00 rupiah per share.

For the year, the company's normalized net income totaled 142.83 rupiah per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 283.41 rupiah.

EPS declined 68.7% from 457.02 rupiah in the prior year.

Normalized net income was 201.62 billion rupiah, a decrease of 68.9% from 648.13 billion rupiah in the prior year.

Full-year total revenue fell 7.5% year over year to 13.835 trillion rupiah from 14.963 trillion rupiah, and total operating expenses decreased on an annual basis to 12.052 trillion rupiah from 12.279 trillion rupiah.

The company said reported net income decreased 92.4% on an annual basis to 57.88 billion rupiah, or 41.00 rupiah per share, in the full year, from 758.71 billion rupiah, or 535.00 rupiah per share.

As of April 11, US$1 was equivalent to 13,105 rupiah.