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The broiler chicken and day old chicken (DOC) solid price are able to boost the performance issuers of the Poultry sector in the 1H18. Financial performance of the big three players in the sector: Japfa Comfeed, Tbk (JPFA IJ), Charoen Pokphand Indonesia, Tbk (CPIN IJ), and Malindo Feedmill, Tbk (MAIN IJ) compact positive in the first half of this year.
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JPFA was able to obtain revenues totaling IDR16.7Trn, or increased by 18.18% YoY in the first half. Net income issuers also increase 127.76% YoY to IDR1.10Trn. Meanwhile, CPIN earn income amounting to IDR25.61Trn in 1H18 or increased 2.72% YoY. The company’s net profit also rose 59.86% YoY to IDR2.43Trn. As for the MAIN registered an income totaling IDR3.07Trn in 1H18 or increase 13.70% YoY. At the same time, the issuer net profit growth 349.77% YoY to IDR121.08Bn.
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Analyst Danareksa Sekuritas, Adeline Solaiman said, the impressive performance of the issuer poultry sector could not be separated from the increase in the price of broiler chicken and DOC that reached its peak in the second quarter. This coincides with the moment of the Lebaran where demand for both types of the chicken.
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In fact, the price of broiler chicken and DOC still show rise until July yesterday. He called broiler chicken price rises 6.2% MoM, or 37.8% YoY to IDR22,960/Kg at the end of last July. While the average sales price or average selling product (ASP) broiler chicken until July has climbed 23.8% YoY to IDR20,457/Kg.
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At the same time, DOC prices increased 4.4% MoM or 44.9% YoY to IDR5,531/DOC in July. In the same period, chicken ASP reached IDR5,065/DOC or by 24.5% YoY. “Rising prices are still going up to the beginning of the second semester is a positive thing for industrial poultry, “she added.
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Adeline assess, performance of the poultry issuer still likely increased throughout the second half of this year. The moment a new performance improvement will occur in the fourth quarter later over the presence of end of year holidays are generally triggered demand for broiler chicken and DOC. “The possibility of increased persists, but it may not be much different from the conditions in the first half.