Golden Agri-Resources net profit down to US$86m

No thanks to higher soybean raw material cost.

Golden Agri-Resources Ltd and its subsidiaries announced that revenue for third quarter 2012 expanded by 25% quarter-on-quarter supported by strong production.

EBITDA and net profit however were less favourable with decreases of 5% and 20% quarter-on-quarter to US$190 million and US$86 million, respectively.

The decline in performance was largely due to higher soybean raw material cost, according to the announcement.

Meanwhile the Board of Directors said it remains confident about the company’s performance and outlook.

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