Gross profit fell by 35.6% y-o-y to US$882.3 million while ebitda fell by 40.8% y-o-y to US$477.6 million.
Fresh fruit bunch (FFB) and palm product output for 1HFY2023 were lower at 4,432,000 tonnes and 1,329,000 tonnes respectively as compared to 4,765,000 tonnes and 1,453,000 tonnes, respectively in 1H2022. This was primarily due to the replanting and heavy rainfalls.
Share of profit in joint ventures fell by 70.5% y-o-y to US$12.5 million mainly due to lower operating performance in a joint venture in line with the declining market prices during the current period.
No dividend was reported for the period compared to the dividend of 0.8 cents in the same period the year before.
See also: Creative guides for ‘similar level of operating loss’ for 2HFY2025
As at June 30, cash and cash equivalents stood at US$399.3 million.
As at 9.11am, shares in Golden Agri-Resources are trading 0.5 cents lower or 2% down at 24.5 cents.
