Golden Agri-Resources posts Q2 underlying profit
14/08/2017 11:04
SINGAPORE, Aug 14 (Reuters) - Singapore-listed palm oil
company Golden Agri-Resources Ltd GAGR.SI posted a
second-quarter profit on an operating basis, helped by a
recovery in plantation output.
The company reported an underlying net profit, excluding
one-off items, of $53 million, compared with a loss of $6
million in the year-ago period. Palm product output rose 41
percent in the quarter.
However, the company's net profit nearly halved to $22
million in the quarter. It benefited from deferred tax income in
the year-ago period.
"Golden Agri-Resources continues to have a positive outlook
for full year 2017 supported by our increasing production
volume," Franky Widjaja, the company's chairman and chief
executive, said in a statement.
(Reporting by Aradhana Aravindan; Editing by Gopakumar Warrier)
((aradhana.aravindan@thomsonreuters.com; +65 6403 5659; Reuters
Messaging: aradhana.aravindan.thomsonreuters.com@reuters.net))
Keywords: GOLDEN AGRI RESULTS/
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