PT Sinar Mas Agro Resources and Technology (SMAR) has reported net profit of about S$94 million for the nine months ended Sep, 30 2025, down 35% from roughly S$145 million in the same period a year earlier, as weaker commodity prices hit revenue and margins.

Net sales fell 14% to approximately S$5.12 billion, while cost of goods sold eased to about S$4.63 billion. The softer top line drove gross profit down 27% to around S$484 million. Operating profit slipped 48% year on year to roughly S$106 million after selling as well as general and administrative expenses reached an aggregate of about S$458 million.

Finance costs remained heavy at about S$74.7 million, contributing to a 35% decline in profit before tax to some S$121 million. Current and deferred tax expenses totalled roughly S$40 million.

Despite the earnings contraction, operating cash flow rebounded sharply, generating around S$592 million versus a marginal outflow a year earlier, bolstered by higher cash collections and a S$360 million tax refund.

As at Sep, 30 2025, SMAR’s total assets stood at about S$4.12 billion, up from S$3.93 billion at end-2024. Total liabilities climbed 16% to roughly S$2.31 billion, while equity slipped to about S$1.81 billion after a S$9.1 million dividend payout during the period.

Cash and cash equivalents closed the period at approximately S$141 million, compared with S$69 million a year earlier, supported by improved operating inflows despite net investment outlays of around S$226 million and financing cash outflows of about S$371 million.

The group’s basic earnings per share for the nine-month period stood at 556 rupiah, equivalent to roughly 5.0 Singapore cents.