Golden Agri Resources back in the black with $1.09m profit in Q3

But weak prices of commodities continued to drag on earnings.

Golden Agri Resources’ net profits recovered to $1.09m (US$801,000) in Q3 after a $73.39m (US$53.92m) loss in Q3 2018, and reversing the $89.9m loss in the previous quarter, according to an SGX filing. Revenue dropped 15% to $2.12b ($1.56b) in Q3 from $2.5b ($1.84b) over the same period last year.

But the quarter’s marginally stronger results were not able to compensate for weaknesses during the first half of the year, with profits booking a $62.05m (US$45.59m) loss for the first nine months of 2019. However, this has narrowed 44% YoY compared to the $110.37m (US$81.09m) loss in 9M 2018.

Also read: Golden Agri Resources' loss widens 70.7% to $64.45m in H1
https://sbr.com.sg/agribusiness/news/golden-agri-resources-loss-widens-707-6445m-in-h1

Lower prices hit on Golden Agri’s revenue. Revenue from their plantation and palm oil mills segment slipped 15.5% YoY to $1.27b (US$929.6m) in 9M 2019. This was attributed to lower CPO prices during the period, partially offset by the higher sales volume due to sell-down of inventory.

Revenue of the palm, laurics and others segment during the nine-month period 2019
reached $6.39b (US$4.7b), 14% YoY lower than last year due to weaker selling prices that were partly compensated by higher sales.

Earnings before interest, tax, depreciation and amortization (EBITDA) diminished 19.2% YoY to $145.36m (US$106.8m) in Q3 from $179.89m (US$132.17m) in Q3 2018. This was due to weaker prices and plantation output.

Earnings per share (EPS) stood at $0.0001 in Q3 from a loss of $0.0051 in Q3 2018. For the first nine months of 2019, EPS loss narrowed $44% YoY to $0.0036 from $0.0064 in 9M 2018.

If you've been wondering whether SBR could work for your company — yes, probably.

A lot of the companies we partner with started as readers. They'd been following our coverage for a while, saw their own customers and competitors in it, and eventually asked the obvious question: could we do something with you? The answer is usually yes. The shape of it depends on what you're trying to do.

The options are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. Some partners use one channel; most use a mix. We figure out the right combination by starting with your brief, not with our rate card.

So if the question has been on your mind, here's the easy way to ask it.

We'll tell you honestly whether we can help, and how. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia