02-08-2013, 07:56 PM
Golden Agri Q2 profit falls, flags tough outlook in China
SINGAPORE – Golden Agri-Resources reported on Friday a plunge in its second-quarter net profit, hurt by lower palm oil prices, and said the operating environment in China remains challenging due to intense competition.
The company posted net profit of US$45 million (S$57.3 million) for the three months ended June, down 58 percent from a year earlier. The earnings were also 60 per cent lower than the previous quarter, mainly due to weaker production and higher plantation costs. REUTERS
http://www.todayonline.com/business/gold...look-china
SINGAPORE – Golden Agri-Resources reported on Friday a plunge in its second-quarter net profit, hurt by lower palm oil prices, and said the operating environment in China remains challenging due to intense competition.
The company posted net profit of US$45 million (S$57.3 million) for the three months ended June, down 58 percent from a year earlier. The earnings were also 60 per cent lower than the previous quarter, mainly due to weaker production and higher plantation costs. REUTERS
http://www.todayonline.com/business/gold...look-china
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