Due to a large fair value loss.
Golden Agri Resources (GAR) reported that its net profit tumbled 63.5% to $154m (US$113.6m) in FY14, on back of a $154.3 (US$133.7m) fair value loss for its biological items.
Excluding this item, core net profit still dipped 30.5% to $300.2m (US$221.3m).
Its revenue jumped 15.7% to $10.3b (US$7.6b), thanks to the expansion of its palm downstream business.
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