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Saturday, March 2, 2013

Golden Agri quarterly profit plunged 93% as palm prices dropped


THURSDAY, 28 FEBRUARY 2013 19:16
Golden Agri-Resources, the world’s second-biggest palm oil producer, said fourth-quarter profit declined 93% as prices of the commodity declined.

Net income was US$53.6 million ($66.2 million) in the three months ended Dec. 31, from US$747.8 million a year earlier, the Singapore-based company said today in a statement. Revenue in the quarter gained 14% to $1.519 billion.

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