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Japfa Comfeed Indonesia swings to loss in Q1

PT Japfa Comfeed Indonesia Tbk said its first-quarter normalized net income was a loss of 12.97 rupiah per share, compared with 4.79 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 138.03 billion rupiah, compared with income of 50.96 billion rupiah in the year-earlier period.

The normalized profit margin fell to negative 2.3% from 0.9% in the year-earlier period.

Total revenue climbed year over year to 5.939 trillion rupiah from 5.675 trillion rupiah, and total operating expenses rose 5.3% on an annual basis to 5.828 trillion rupiah from 5.532 trillion rupiah.

Reported net income totaled a loss of 221.74 billion rupiah, or a loss of 20.84 rupiah per share, compared to income of 52.94 billion rupiah, or 4.98 rupiah per share, in the prior-year period.

As of April 30, US$1 was equivalent to 12,980 rupiah.