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Revisions

Golden Agri’s 2Q results hurt by El Nino; company expects better 2H

Results

Golden Agri’s 2Q results hurt by El Nino; company expects better 2H

Michelle Teo Published on Fri, Aug 12, 2016 / 11:07 AM GMT+8

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SINGAPORE (Aug 12): Weak crude palm oil prices and production output continue to weigh on planter Golden Agri-Resources.

The world’s second-largest palm oil company posted an operating loss of US$21 million ($28.2 million) for 2Q2016, compared with US$52.6 million in operating profit in the same quarter the year before.

Turnover for the three months was 5% lower at US$1.74 billion.