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Golden Agri-Resources Q3 profit climbs YOY

Golden Agri-Resources Ltd. said its third-quarter normalized net income amounted to $6.6 million, a rise from $1.4 million in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin fell to negative 1.1% from 0.1% in the year-earlier period.

Total revenue declined 14.6% on an annual basis to $1.57 billion from $1.84 billion, and total operating expenses decreased 16.7% year over year to $1.49 billion from $1.79 billion.

Reported net income rose on an annual basis to $15.7 million, or 0 cents per share, from $4.4 million, or 0 cents per share.