Golden Agri swings into the black, thanks to deferred tax income and forex gain

DEFERRED tax income and a foreign-exchange gain, instead of a loss in the previous year, lifted Golden Agri-Resources' results for the third quarter.

Net profit for the three months ended Sept 30, 2016, was US$219.7 million, a reversal from a net loss of US$16.4 million in the preceding year, the group said in a Singapore Exchange filing on Monday.

Revenue rose 16.6 per cent to US$1.84 billion. Earnings per share came in at 1.73 US cents, a reversal from a loss per share of 0.13 US cent in the preceding year.