Indonesia’s Largest Palm Oil Producer Sees Profits Double on Rising Prices

Posted by Jakarta Globe: None Given on March 1st, 2011
Jakarta Globe: Golden Agri-Resources, the world’s second-largest palm oil producer, said fourth-quarter profits more than doubled as prices for its main product jumped to record highs and its assets gained in value. Net income increased to $1.17 billion for the quarter ending on Dec. 31, compared with $473 million a year earlier, the Singapore-listed Indonesian company said on Monday. Profit, excluding gains from asset value upgrades and currency exchange gains, jumped 124 percent to $146 million. Sales rose......

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