9M24 Sales jumped 9.30% YoY to IDR 41.28 tn. Commercial Farms segment still had the major contribution by 40.70% to revenue followed by Animal Feed (26.32%), Poultry Processing and Consumer Products (15.25%), Aquaculture (8.35%), Poultry Breeding (5.70%), and Trading and Others (3.68%) COGS had a slower growth of 4.68% YoY to IDR 33.34 tn since raw material costs only risen by 2.7% YoY to IDR 26.76 tn. Higher efficiencies was carried by changes in SOP, cheaper corn, and digitalisation in operations. This resulted in a higher GPM of 19.24% vs 15.68% in 9M23. Inherently, Gross Profit also increased 34.15% YoY to IDR 7.94 tn. Trickling down to the bottom-line, 9M24 Net Profit increased 125.82% YoY to IDR 2.25 tn. NPM also improved to 5.44% from 2.63% in 9M23.
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