Indonesia poultry company PT Charoen Pokphand Indonesia Tbk (CPIN) made a steep jump of net profit last year due to foreign exchange and higher operating profit.
In a public statement today, Charoen posted Rp1.61 trillion last year, a 535% jump compared a year before of Rp252.97 billion.
The company gained foreign exchange of Rp229.44 billion last year, a reversal from the previous year's forex loss of Rp372.01 billion.
Operating profit ballooned 114.49% from Rp958.93 billion in 2008 to Rp2.06 trillion last year. In line with that, Charoen revenue rose 9.39% from Rp13.31 trillion in 2008 to Rp14.56 trillion last year.