Golden Agri Resources’ net profit up to $528m in H2 22
The firm’s downstream and upstream businesses helped in the growth.
Amidst global reopening and normalised CPO prices, Golden Agri Resources reported a net profit of $528m (US$392m) in the second half (H2) of 2022, up 1% from the same period in the previous year.
Its EBITDA grew 26% to $1.3b (US$1b) in H2 2022 from $1.08b (US$807m) in H1 2022.
The underlying profit went up 27% year-on-year in H2 2022 to $694m (US$515m).
Its revenue increased by 12% YoY to US$11.4b on the back of CPO market price appreciation.
“This robust performance was achieved as a result of sustained high palm oil market prices, record production output and excellent execution of our downstream business strategies,” the firm said.
$1 = US$0.74