Halcyon Agri guides for post-tax profit for FY2021, reversing year-ago loss

MAINBOARD-LISTED rubber producer Halcyon Agri Corp 5VJ expects to return to profitability for the financial year to Dec 31, 2021, the board said in a guidance on Tuesday (Jan 18).

It attributed the expected post-tax profit to "overall improvement in business conditions, particularly the recovery of downstream industrial activities".

It had run up an unaudited post-tax loss of S$61.0 million in the year-ago period, which amounted to a full-year net loss of S$54.2 million, excluding minority interests.

"The group has been able to capitalise on the robust demand and continuous improvement in its market position, that accelerated business growth during FY2021," the board said in its filing.

The latest profit guidance is based on a preliminary assessment of Halcyon Agri's unaudited financial statements for FY2021, which are still being finalised.

Shares closed flat at S$0.225 on Tuesday, before the disclosure was made.