Golden Agri cuts Q3 net loss to US$5 million

Singapore

GOLDEN Agri-Resources' net loss narrowed for its fiscal third quarter, shrinking 92 per cent to US$5 million for the three months ended Sept 30, from US$61 million in the previous quarter, it said on Friday morning.

In a business update, the palm oil plantation company said rising crude palm oil market prices resulted in the continuing recovery of earnings before interest, tax, depreciation and amortisation (Ebitda) in Q3. Ebitda rose 19 per cent to US$124 million, from US$105 million in the second quarter.