Feronia Inc. Announces Financial and Production Results for the First Quarter Ended March 31, 2017
For the quarter, the company reported revenues of $2,147,000 against $3,966,000 a year ago, primarily from the sale of 2,422 tonnes of CPO at an average price of $723 per tonne against 5,551 tonnes at $636 per tonne a year ago. Net loss was $5.8 million or $0.01 per share against net loss of $0.3 million or $0.01 per share a year ago, an increase largely the result of a decrease in finance income of $6,292,000.