Halcyon Agri back in black for Q2

HALCYON Agri Corporation returned to the black for the second quarter, recording a net profit of US$1.5 million for continuing operations as it continues to reap the benefits of its merger late last year with GMG Global and Sinochem International Corporation's natural rubber assets.

This compares against a loss of US$8 million in the year-ago period.

Revenue more than doubled to US$527.7 million, up from US$198.6 million in the same period last year.

The group said that it expects the positive impact from cost and revenue synergies post-merger and an improvement in its leverage to continue to support its performance.