Halcyon Agri

Halcyon Agri: 1Q14 net profit slumped 77% to US$352,000 while revenue fell 18.7% to $40.8m, mainly on lower ASPs, where revenue per tonne of rubber decreased 29.8% to US$2,127 y/y. This was partially offset by increase in sales volume by 15.9% to 19,161 tonnes. Gross margins also fell 1ppt to 7% due to the lower ASPs.