Golden Agri-Resources H1 net profit rises 4.4% to US$167.2 million on higher CPO prices
Revenue for the six months ended Jun 30 is up 7.3% at US$6.6 billion
Golden Agri-Resources reported a 4.4% increase in its net profit for the first half of FY2026, reaching US$167.2 million. This rise was driven by higher international CPO prices and an increase in sales volume. Revenue for the six months ending June 30 rose 7.3% to US$6.6 billion, up from US$6.2 billion in the previous year. The average CPO FOB price for the first half was US$1,178 per tonne, an 8.1% increase from US$1,090 per tonne last year.
The company also benefited from lower net financial expenses, which dropped to US$69.2 million from US$82.1 million due to reduced borrowing costs. However, earnings before interest, taxes, depreciation, and amortisation fell 1.9% to US$555.6 million, partially offset by lower output and higher administrative charges. Fresh fruit bunch production decreased to 4.23 million tonnes, while total palm product output remained flat at 1.32 million tonnes.
The company did not declare any dividends for the half-year, maintaining the same level as the previous period. Golden Agri-Resources noted that the global vegetable oil market remains volatile due to geopolitical tensions, macroeconomic headwinds, and shifting weather patterns. However, CPO prices remain supported by limited acreage expansion and sustained demand growth for food, oleochemicals, and biofuels.
The stock of Golden Agri-Resources rose 1.8% to close at S$0.29 following the announcement of the results.
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