Global Palm Resources warns of 1Q19 net loss

Singapore two-dollar bills

Global Palm Resources warned Monday that it expected to report a net loss for the first quarter of the year.

“The net loss for the first quarter of 2019 is mainly due to the decrease in the sales volume and average selling price of crude palm oil and decrease in average selling price of palm kernel,” the palm oil producer said in a filing to SGX after the market close.

The company added it was still finalizing its unaudited results for the quarter, with the release expected on or before 15 May.

Global Palm Resources advised shareholders to exercise caution in dealing with the company’s shares.

 

 

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