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Halcyon Agri reports 3Q loss of US$12.1 mil on the back of low rubber prices and reduced volume

Benjamin Cher
Benjamin Cher11/14/2016 07:59 PM GMT+08  • 2 min read
Halcyon Agri reports 3Q loss of US$12.1 mil on the back of low rubber prices and reduced volume
SINGAPORE (Nov 14): Halcyon Agri reports a loss of US$12.1 million ($17.1 million) for 3Q on the back of persistent low rubber prices and reduced volumes from compliance with Agreed Export Tonnage Scheme.
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SINGAPORE (Nov 14): Halcyon Agri reports a loss of US$12.1 million ($17.1 million) for 3Q on the back of persistent low rubber prices and reduced volumes from compliance with Agreed Export Tonnage Scheme.

Revenue for the quarter also dropped 31.9% to US$187.1 million driven by lower selling prices and lower sales volume.

The distribution business also experience lower volumes and an operating loss as strategy and activities were realigned ahead of the integration with Sinochem natural rubber distribution business.

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