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Golden Agri-Resources 9M15 Earnings Up 261% Despite Revenue Slip

Shares Investment

Golden Agri-Resources reported a leap of 260.9 percent in 9M15 net profits to US$15.7 million despite a slip in revenue received. Revenue recorded a fall of 14.6 percent to US$1.6 billion mainly due to lower average crude palm oil prices during the current period and lower contributions from all segments across the board, except from Others segment, with plantation and palm oil mills suffering the most with a 23 percent slump.

Profitability was due to a more significant decrease in cost of sales of 19.1 percent, resulting in gross profits rising 9.8 percent to US$310.6 million, contributing to the massive improvement in net earnings.



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