November 26, 2010
Indonesian animal feed firm Japfa to merge with subsidiaries
PT Japfa Comfeed Indonesia, an animal-feed producer, has decided on a merger with two of its subsidiaries PT Bintang Terang Gemilang and PT Multiphala Agrinusa for efficiency, said Japfa director Ignatius Herry Wibowo.
Japfa and the two wholly owned subsidiaries operate in the same line of business as producers of animal feed.
Each of the two subsidiaries has three animal feed plants.
In the first half of this year, Japfa reported IDR6.69 trillion (US$778 million) in income down from IDR6.92 trillion (US$771.25 million) on-year, but its net profit rose 10% to IDR264.89 billion (US$29.52 million).
The increase in net profit was caused by a decline in cost of goods sold-down 6.04% to IDR5.42 trillion (US$604.07 million).