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GoldenAgri hit by absence of forex gain
Q1 revenue, gross profit up but net profit falls 60%
Add BT as a preferred sourcePublished Mon, May 15, 2017 · 09:50 PM
Singapore
GOLDEN Agri-Resources (GAR) has reported a slump in first-quarter earnings despite higher revenue in the first three months of the year in the absence of a big foreign exchange gain it registered in the year-ago quarter.
Net profit was down 60.1 per cent year-on-year at US$37.6 million. In Q1 2017, there was a US$1.2 million exchange loss recorded, in contrast to the US$51.9 million foreign exchange gain in the year-ago period.
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