November 14, 2017 / 12:29 AM / in a year

Golden Agri posts 3 pct rise in Q3 underlying profit

SINGAPORE, Nov 14 (Reuters) - Singapore-listed palm oil company Golden Agri-Resources Ltd posted a 3 percent rise in its third-quarter underlying profit, helped by higher plantation output.

The company posted an underlying net profit, which excludes non-operating items, of $79 million for the three months ended September, compared with $77 million a year ago.

“CPO (crude palm oil) market prices have been robust and we are optimistic that they will remain stable for the rest of the year,” Franky Widjaja, chairman and chief executive officer, said in a statement on Tuesday.

Golden Agri’s net profit fell 80 percent to $44 million. The company’s results in the same quarter a year ago included deferred tax income of $128 million. (Reporting by Aradhana Aravindan Editing by Richard Pullin)

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