Japfa Comfeed Indonesia (JPFA IJ) - Soft Livebird and DOC Prices Dragged Down 4Q23 Earnings
Lower ASP across poultry businesses dragged down 4Q23 profitability, resulting in DOC and livebird segment operating losses in 4Q23.
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Japfa Comfeed Indonesia - Expect the Feed Business to Further Drive Profitability
Based on our revised forecast, we now expect higher net revenues in FY24F (+7.6% y-o-y) with a sustained EBITDA margin on the back of lower feed...
401 Views
Poultry - Still Unclear Benefits from the Potential MSG Program on Poultry Demand
Prabowo-Gibran’s team indicated its free lunch program (MSG) would be fully rolled out by FY29F needing 1.2mn tons of chicken p.a.
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Poultry: ST Negatives from Earnings, Data and Fund Positioning (NEUTRAL)
We cut our FY23/FY24F earnings estimates for the sector by 34.5/23.2% due to lower-than-expected LB and higher-than-expected corn prices.
234 Views
Poultry: Margins expansion prospect in FY24 from lower input costs (OVERWEIGHT)
Poultry Margins expansion prospect in FY24 from lower input costs. We retain our positive view for FY24 on margins expansion prospect from the...
362 Views