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Golden Agri's 1HFY2022 earnings surge 154% to US$390 mil on the back of higher CPO prices

Khairani Afifi Noordin
Khairani Afifi Noordin8/12/2022 05:59 PM GMT+08  • 3 min read
Golden Agri's 1HFY2022 earnings surge 154% to US$390 mil on the back of higher CPO prices
GAR’s revenue rose 23.3% to US$5.5 billion compared to US$4.45 billion recorded in 1HFY2021. Photo: Bloomberg
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Golden Agri-Resources (GAR) reported earnings of US$389.6 million ($533 million) for 1HFY2022, up 154% from the previous corresponding period at US$153.2 million.

On the back of higher crude palm oil (CPO) prices, GAR’s revenue rose 23.3% to US$5.5 billion compared to US$4.45 billion recorded in 1HFY2021 while EBITDA increased by 54.5% to US$807.4 million.

Gross profit grew 29.1% y-o-y to US$1.37 billion.

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