Golden Agri-Resources swings into red for Q4 with US$29m loss

Golden Agri-Resources' products seen at its company's office in Singapore on Oct 6, 2015.
Golden Agri-Resources' products seen at its company's office in Singapore on Oct 6, 2015.PHOTO: REUTERS

SINGAPORE - Golden Agri-Resources has recorded a net loss of US$29 million for the fourth quarter ended Dec 31, 2017, due to an impairment loss on China assets recognised in the quarter. A year ago, it reported a net profit of US$46 million for the three months.

Revenue for the quarter this year slipped 10 per cent to US$1.9 billion, as production volume and CPO (crude palm oil) prices declined, the company said on Tuesday (Feb 27).

Loss per share came up to 0.23 US cent, compared to the previous year's earnings per share of 0.36 cent.

Golden Agri-Resources has proposed a final dividend of 0.116 Singapore cent per share. After incorporating the 0.693 cent per share interim dividend distributed in November 2017, the total dividend for the 2017 financial year will be 0.809 Singapore cent per share.