pstrongThe company's gross profit and EBITDA also declined./strong/p pGolden Agri Resources (GAR) recorded a net profit of $50m (US$37m) in 1Q24, a 60% drop from $124m (US$92m) in 1Q23./p pThe company's gross profit and EBITDA also declined in 1Q24, falling by 12% to $577m (US$427m) and 6% to $311.78m (US$231m), respectively.
Golden Agri Resources recorded a net profit of $50m in 1Q24, a 60% drop from $124m in 1Q23.
On the other hand, revenue for the period increased 1% YoY to $3.46b , driven by higher sales volume. Meanwhile, the average CPO market price decreased by 8% YoY to US$910 per tonne from US$990 per tonne in the previous year.
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