In a Friday filing to the SGX, the group says its strong performance for both the quarter and year under review was bolstered by its integrated business model and the appreciation of crude palm oil (CPO) market prices, which more than offset weaker palm product output.
SINGAPORE (Feb 24): Golden Agri-Resources announced earnings of US$46.3 million ($65 million) for the fourth quarter ended Dec 31, more than double its 4Q15 earnings of US$19.6 million on higher revenue and forex gains.
For the full year, the palm oil company grew more than 38 times to US$399.6 million from US$10.4 million in FY15.
