Golden Agri ends 2Q and 1H with net losses on lower yields and CPO prices

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SINGAPORE (Aug 14): Golden Agri-Resources reported a net loss of US$39 million (S$53.5 million) for the 2Q ended June compared with earnings of US$22 million a year ago even as revenue grew 6% to US$1.86 billion from a year ago.

For the 1H period ended June, net loss came in at US$27 million from earnings of US$59 million a year earlier. This came on the back of a 3.3% fall in 1H revenue revenue to US$3.68 billion.

Sales from its plantation and palm oil mills segment fell by 18.9% at US$684.2 million, mainly due to decreases in production yield and CPO prices as well as higher inventory level... (Click here to read the full story)