Golden Agri-Resources’ Q3 profit rises to US$162 million on higher plantation output

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Appreciation in crude palm oil prices pushes revenue up to US$3.5 billion

Appreciation in crude palm oil prices pushes revenue up to US$3.5 billion

[SINGAPORE] Golden Agri-Resources (GAR) posted a net profit of US$162 million for its third quarter ended Sep 30, a 32 per cent increase from US$123 million in the previous quarter.

It did not provide figures for year-on-year comparisons for Q3, but in 2025 reported a net profit of US$124 million for the same period.

The rise in net profit was due primarily to higher plantation output and investment income received in Q3 2026, the company said in a quarterly business update on Thursday (Nov 12).

For the first nine months of 2026, its net profit stood at US$330 million, 16 per cent higher than the US$284 million logged in the year-ago period.

Revenue for Q3 was up 3 per cent at US$3.5 billion on a quarterly basis, and 6 per cent higher on the year at US$10.1 billion for 9M 2026.

This growth was supported by an appreciation in crude palm oil (CPO) prices, GAR said. The average price of FOB Belawan CPO rose to US$1,192 a tonne in 9M 2026, compared with US$1,094 in the year-ago period.

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The upstream palm product output for Q3 – which includes CPO – increased 12 per cent to 808,000 tonnes from 724,000 tonnes in Q2.

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