Revenue for the quarter was $10.599 billion, up 13.2% from $9.367 billion in the same quarter of last year.
|Kuok Khoon Hong, chairman and chief executive officer.|
The company attributes the improvement for the second quarter of 2017 by the recovery in Oilseeds & Grains from the one-off losses in the second quarter in 2016, but was partially offset by weaker performances in Tropical Oils and Sugar.
Benefiting from higher crush volume and positive crush margins the Oilseeds & Grains segment registered a pre-tax profit of $61.1 million compared to a loss of $343.8 million in the second quarter of 2016.
Sales volume for Oilseeds & Grains increased 13% to 6.7 million tonnes compared to 5.9 million tonnes in the same period of last year.
“While the group may face short-term challenges, we remain very optimistic about the tremendous growth prospects of our various businesses and will continue with our expansion plans, especially in China, India and Indonesia,” said Hong.