Singapore's Golden Agri-Resources posts Q3 profit
14/11/2016 09:30
SINGAPORE, Nov 14 (Reuters) - Singapore-listed palm oil
company Golden Agri-Resources Ltd GAGR.SI posted a profit in
the third quarter, helped by higher crude palm oil prices and
improved performance of its downstream business.
The company reported a net profit of $220 million, compared
with a $16 million loss a year ago. The latest quarter benefited
from a net tax impact of $111 million from a revaluation of its
plantation assets in Indonesia.
The company's earnings before interest, taxes, depreciation
and amortization rose 29 percent to $165 million.
Palm product output in the third quarter fell 22 percent to
624,000 tonnes as the recovery in fruit production was not
significant yet in certain regions impacted by the severe El
Niño conditions in 2015, it said.
(Reporting by Aradhana Aravindan; Editing by Sunil Nair)
((aradhana.aravindan@thomsonreuters.com; +65 6403 5659; Reuters
Messaging: aradhana.aravindan.thomsonreuters.com@reuters.net))
Keywords: GOLDEN AGRI RESULTS/
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