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Golden Agri-Resources swings back into profitability with 3Q earnings of US$220 mil

Benjamin Cher
Benjamin Cher11/14/2016 06:04 PM GMT+08  • 2 min read
Golden Agri-Resources swings back into profitability with 3Q earnings of US$220 mil
SINGAPORE (Nov 14): Golden Agri-Resources has swung back into the black with 3Q16 earnings of US$219.7 million ($311 million), on the back of higher crude palm oil (CPO) prices and deferred tax benefit.
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SINGAPORE (Nov 14): Golden Agri-Resources has swung back into the black with 3Q16 earnings of US$219.7 million ($311 million), on the back of higher crude palm oil (CPO) prices and deferred tax benefit.

Revenue for the quarter rose 17% to US$1.8 billion.

Third quarter EBITDA recovered to US$165 million. Despite weaker palm product output, Golden Agri-Resources managed to deliver better results compared to the same period last year, supported by its integrated business model and the appreciation of CPO market prices.

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