Brief: Golden Agri Resources posts qtrly net profit of $39.5 million
12/08/2016 24:24
Aug 12 (Reuters) - Golden Agri-Resources Ltd GAGR.SI : * Qtrly revenue $1.74 billion versus $1.83 billion a year ago * Says no dividend has been declared for the quarter ended 30 June 2016 * Operating performance to be affected by prices of CPO and competing seed oils, climatic conditions * Qtrly net profit $39.5 million versus $10.4 million * Group's production will continue be affected by the El Nino weather condition * "Expect better results due to larger harvest volumes in the second half of the year" * El Nino weather condition impact may be mitigated by higher CPO prices * "Will continue optimising margins through further vertical integration of its operations" * "Expect CPO price to remain supported by lower production due to El Nino and implementation of Indonesia biodiesel mandate" * Upstream projected 2016 capex US$110 million; downstream projected 2016 capex US$110 million * Source text for Eikon ID:nSNZb4pxw9 ((Further company coverage: GAGR.SI )) ((Bangalore.newsroom@thomsonreuters.com))
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