Halcyon Agri reports Q2 profit of US$1.7m

Singapore

NATURAL rubber supplier Halcyon Agri Corporation continued to stay in the black in the second quarter, reversing its loss a year ago as it reaps the benefits of its merger late last year with GMG Global and Sinochem International Corporation's natural rubber assets.

The group recorded a net profit of US$1.7 million for the three months ended June 30, against a loss of US$8 million in the year-ago period. This translates to earnings of 0.1 US cent per share, compared with a loss per share of 1.33 US cent a year ago.