Golden Agri disappoints with US$39m Q2 loss
It cites soft palm oil prices, lower production for 'tough quarter'
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Singapore
GOLDEN Agri-Resources missed analyst expectations with a second-quarter net loss of US$39.02 million that reversed a year-ago profit of US$21.88 million amid softer prices and foreign exchange losses.
On a per-share basis, net loss for the Indonesian palm oil producer was 0.31 US cent for the three months ended June 30. For the first six months of the year, net loss was US$27.17 million, or 0.21 US cent per share, down from a net profit of US$49.43 million a year earlier. No dividend has been declared.
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