Feronia Inc. Announces Earnings and Operating Results for the Second Quarter Ended June 30, 2016
For the quarter, the company announced revenue of $3.9 million (compared to $3.5 million for the same period a year ago) primarily from the sale of 5,124 tonnes of CPO at an average price of $661 per tonne. Net losses was $4.5 million compared to net profit of $0.2 million for the same period a year ago and the difference being largely driven by the non-cash change in the value of convertible debentures with an expense of $3.1 million in second quarter of 2016 compared to second quarter of 2015 gain of $4.6 million.