Golden Agri-Resources reports 1QFY21 earnings of US$41 mil, versus losses of US$95 mil last year

Golden Agri-Resources has reported earnings of US$41 million for 1QFY21 ended March, sharp swing from losses of US$95 million incurred in the year earlier period.

Revenue in the same period was US$2 billion, up 24% y-o-y from US$1.66 billion, thanks to higher crude palm oil prices, which appreciated by 57% over same period last year to US$1,057 per tonne.