The said division failed to maintain a solid sales volume.
It was not a good quarter for Golden Agri-Resources given its disheartening 44.6% slump in net profit for the past quarter.
According to UOB Kay Hian, the lacklustre performance of the agri-group was due to its plantation and oilseeds divisions.
"The plantation division’s earnings were impacted by lower sales volume," analyst Leow Huey Chuen noted.
The segment's total sales volume went down 17.2%.
Meanwhile, the oilseeds division’s earnings before taxes, fell 7.7% QoQ due to a weaker margin of US$6.5/tonne in 2Q17 vs US 7.2/tonne in 1Q17.
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