Golden Agri up on Q4, palm oil outlook

SINGAPORE: Shares of palm oil firm Golden Agri Resources rose as much as 5.4 percent on Tuesday after it reported strong fourth quarter earnings and its CEO said demand for palm oil is expected to be robust.

At 0225 GMT, Golden Agri shares were up 5.4 percent at S$0.685 on a volume of 74.3 million shares.

"The results were good and the company said palm oil outlook remains positive," said a local trader.

Golden Agri said its net profit for the quarter ended December was $1.17 billion, up from $473 million a year earlier, including a $1.01 billion net gain from changes in fair value of biological assets.