Golden Agri-Resources H1 net profit up 4.4% at US$167.2 million on higher CPO prices
Revenue for the six months ended Jun 30 rises 7.3% to US$6.6 billion
Golden Agri-Resources reported a 4.4% increase in its first half net profit for the fiscal year 2026, reaching US$167.2 million, up from US$160.3 million in the same period last year. This growth was driven by higher international crude palm oil (CPO) prices and increased sales volume, which lifted revenue to US$6.6 billion, a 7.3% rise from US$6.2 billion.
The average CPO free-on-board price reached US$1,178 per tonne, an 8.1% jump from US$1,090 per tonne. The profit margin was bolstered by reduced borrowing costs and a net foreign exchange gain of US$31.8 million, offsetting a net loss of US$23.9 million in the previous period. However, group earnings before interest, taxes, depreciation, and amortisation declined by 1.9% to US$555.6 million due to lower production and higher administrative costs.
Earnings per share increased to US$0.0132, up from US$0.0126. The company did not declare a dividend for the half-year, maintaining the previous year's figure. Golden Agri-Resources expects the global vegetable oil market to remain volatile due to geopolitical tensions, economic challenges, and changing weather patterns. Nonetheless, CPO prices are supported by limited acreage expansion and growing demand for food, oleochemicals, and biofuels.
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