Golden Agri's Q3 net profit slumps 86%, poorest quarter in 11 years
Huge foreign exchange loss adds to its other ills of uncertain palm-oil prices, thin margins and China's challenging oilseeds market
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FLUCTUATING palm-oil prices, thin margins across the board and a challenging oilseeds business in China led Golden Agri-Resources' net profit to plunge 86 per cent to US$4.36 million in the third quarter from US$30.22 million a year ago.
This would mark the world's second largest oil palm firm's weakest quarterly earnings in 11 years.
