Golden Agri-Resources H2 profit up 71.2% to US$323m

GOLDEN Agri-Resources E5H on Tuesday (Mar 1) posted a 71.2 per cent growth in net profit to US$323 million for the second half ended Dec 31, 2021, up from US$188.6 million in the corresponding year-ago period.

The palm oil company's revenue for H2 FY2021 stood at US$5.73 billion, a 55.3 per cent increase from H2 FY2020's revenue of US$3.69 billion.

In a bourse filing, the group said the higher revenue is mainly due to the strong international crude palm oil prices, higher production output and improved margins in its downstream business.