Agrinurture net profit surges to P 355M

Listed international trading firm AgriNurture Inc. (ANI) saw its nine-month net income rise by 510 percent to P355.21 million from P58.92 million in the same period last year, mostly driven by the significant increase in its local sales especially during the start of the enhanced community quarantine.

While the ANI group’s revenue for the period decreased by 12 percent due to logistical challenges caused by the coronavirus pandemic, it was able to increase sales as lockdowns were gradually eased and lifted.

More than half or 58 percent of ANI’s sales were generated from its operations in the Philippines, while the rest came from overseas, particularly China and Hong Kong. The company also has a presence in Europe and Australia. INQ