FY17 Results: Japfa & Kirana Megatara

Feed producer Japfa Comfeed (JPFA) reported a 43.9% drop in net profit to Rp1.11 trillion for 2017 as higher cost and expenses offset sales growth. JPFA’s sales grew 9.6% to Rp29.6 trillion in 2017, from Rp27 trillion. But cost of goods sold rose higher by 13.8% to Rp24.57 trillion, so it reported lower gross profit (Rp5.03 trillion). General and administration expenses also increased 19.6%, affecting operating profit to decline 28.3% to Rp2.73 trillion.

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