February 24, 2017 / 9:41 AM / 6 months ago

Singapore's Golden Agri-Resources posts 137 pct spike in Q4 profit

SINGAPORE, Feb 24 (Reuters) - Singapore-listed palm oil company Golden Agri-Resources Ltd posted a 137 percent jump in fourth-quarter profit, helped by tax benefits and higher market prices of crude palm oil (CPO).

Golden Agri, one of the largest palm oil plantation companies in the world, reported a net profit of $46 million, compared with $20 million a year ago.

The latest quarter included a net tax impact of $62 million from a revaluation of its plantation assets in Indonesia. (Reporting by Aradhana Aravindan; Editing by Biju Dwarakanath)

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