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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