SINGAPORE Feb 28 (Reuters) – Singapore-listed
commodities firm Noble Group Ltd on Tuesday posted a
57 percent fall in fourth-quarter net profit as operating
margins from its agriculture business dropped.

Noble, whose businesses range from cotton and sugar to coal
and iron ore, earned $105.7 million in the three months ended
December, down from $247.5 million a year ago.

The fourth quarter results were, however, an improvement
over the July-September period when Noble posted its first
quarterly loss as a listed company.

Noble was hurt by defaults by cotton farmers during the
third quarter which forced it to cover physical deliveries to
customers by purchasing cotton in the spot market at elevated
prices.

“Overall trading environment proved challenging during the
year,” Noble said in the discussion notes that accompanied its
earnings report.

(Reporting by Eveline Danubrata, Editing by Kevin Lim)

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