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Golden-Agri likely to end FY19 with losses, but can it reverse out of the red in FY20?

Uma Devi
Uma Devi8/27/2019 02:49 PM GMT+08  • 3 min read
Golden-Agri likely to end FY19 with losses, but can it reverse out of the red in FY20?
SINGAPORE (Aug 27): Golden-Agri Resources must be feeling an awful sense of deja vu after the 2Q19 results announcement.
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SINGAPORE (Aug 27): Golden-Agri Resources must be feeling an awful sense of deja vu after the 2Q19 results announcement.

Like in FY18, the palm oil plantation company now expects FY19 to end in the red after being hit by weaker fresh fruit bunch (FFB) output, lower crude palm oil (CPO) prices and higher costs.

For the 2Q19 ended June, Golden Agri reported net loss widened 65.8% to US$64.7 million ($89.8 million) from a loss of US$39.0 million in the same quarter a year ago. Revenue for the quarter fell 16.7% to US$1.5 billion from US$1.9 billion in the previous year.

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