Global Palm Resources issues profit warning
INDONESIAN palm oil producer Global Palm Resources has flagged that its earnings for the 2015 financial year will be "substantially lower" than 2014, based on a preliminary review of unaudited financial statements.
"The lower net profit after tax is primarily attributable to the decrease in the sales revenue and the average selling price of crude palm oil and palm kernel," the Singapore-listed firm said in a Singapore Exchange filing on Wednesday.
The group will be providing more details in its financial results to be released on or before Feb 27, it added.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
BNP Paribas beats estimates as lower costs offset trading slump
TikTok ultimatum puts US firms in firing line for China response
Toyota and Nissan pair up with Tencent and Baidu for China AI arms race
BHP targets Anglo American in bid valuing miner at US$39 billion
FTSE 100 hits record high on big mining M&A, earnings push
Hermes Q1 sales jump 17% on strong China demand