Golden Agri back in the black on lower expenses, boost from other income

Singapore

PALM oil plantation owner Golden Agri-Resources (GAR) on Thursday posted a third-quarter net profit of US$801,000, reversing from a loss of US$53.9 million in the year-ago period, as lower expenses and "other income" gave a boost to its bottom line.

Earnings per share for the quarter came in at 0.01 US cent, against a loss of 0.42 US cent last year. No dividend was declared.