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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.
