, Singapore
225 views

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

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Exclusives

Italy brings its strong suits to Singapore’s fintech expo
Italian trade executive says 9 firms at the Singapore Fintech Festival 2023 exemplify the diverse range of products and expertise Italy can bring to the table.
Economy
Trust Bank sets the bar for digital banking in Asia Pacific
The digital bank targets to be Singapore's fourth largest retail bank, CEO Dwaipayan Sadhu said.