February 26, 2018 / 11:44 PM / 6 months ago

Golden Agri posts 44 pct fall in Q4 underlying profit

SINGAPORE, Feb 27 (Reuters) - Singapore-listed palm oil company Golden Agri-Resources Ltd posted a 44 percent fall in fourth-quarter underlying net profit and said revenue fell as production volume and crude palm oil prices declined.

The company posted an underlying net profit, which excludes non-operating items, of $37 million for the three months ended December, compared with $66 million a year ago. Revenue fell 10 percent.

Including an impairment loss on China assets, Golden Agri posted a net loss of $29 million. Last year it agreed to sell its oilseed crushing and vegetable oil refining business in China to global trading house Louis Dreyfus Co. (Reporting by Aradhana Aravindan; editing by Richard Pullin)

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