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Global Palm Resources warns of net loss for FY18
GLOBAL Palm Resources Holdings is expected to report a net loss for FY2018, it flagged, following a preliminary review of its unaudited financial statements for the financial year ended Dec 31, 2018.
"The net loss for FY2018 is mainly due to the decrease in the sales volume and average selling prices of crude palm oil and palm kernel," the company said in a filing to the Singapore Exchange on Thursday.
The group is still in the process of finalising its unaudited financial results for FY2018, and further details will be disclosed in its unaudited financial statements announcement, which is expected to be released on or before Mar 1.