(February 26 13:36) Sbr.com.sg
Uploaded By:
Paul Howell
Submitted By:
Staff Reporter
Case Study:
No
The Indonesian agriculture firm expects the demand in palm oil to recover in 2021.
In a disclosure to the bourse, Golden Agri-Resources reported a net profit of US$230m for the full eyar of 2020. This is 15% lower than the US$272m reported for 2019.
The vegetable oil supplier attributed the loss to the impact of COVID-19 on the economy, but expects the demand for palm oil and similar products to recover.
The company recovered from the US$11m net loss recorded in the first half of the year, reporting a net profit of $242m for the second half.
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