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Golden Agri Q1 profit up 54.5% to US$18.3m on one-off gain

Golden Agri-Resources reported a 54.5 per cent rise in net profit to US$18.3 million for the first quarter ended March 31, from US$11.9 million a year ago.

This was mainly from a US$11.5 million gain on disposal of a subsidiary in Indonesia, the palm oil plantation owner said in a regulatory filing on Tuesday morning. Without it, operating profit fell 22.4 per cent to US$31.7 million from US$40.8 million in the previous year.

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