Halcyon Agri Corporation Limited reported a net loss of US$39.1 million for the six months ended Jun 30, down from a US$47.2 million loss a year earlier, as improved contribution margins partially offset a sharp drop in sales volume.

Group revenue fell 26.9 per cent year-on-year (YoY) to US$1.04 billion, reflecting a 26.2 per cent contraction in sales volume to 497,730 tonnes. Loss per share narrowed to 2.33 US cents from 2.87 US cents in the prior-year period. The company did not declare an interim dividend.

Gross profit rose 16.9 per cent to US$52.6 million, supported by the consumption of lower-priced inventory purchased before the seasonal wintering period and the absence of last year’s sharp post-tariff price correction. Cost-optimisation initiatives trimmed selling, general and administrative expenses by US$5.4 million.

By segment, the Halcyon Rubber Company (HRC) unit swung to an operating profit of US$13.0 million from a US$6.4 million loss a year earlier, helped by an improved business mix and stronger contribution margins. Corrie MacColl International (CMCI) recorded an operating profit of US$4.8 million, down from US$14.9 million, as cautious US and EU demand weighed on volumes. Corrie MacColl Plantations (CMCP) narrowed its operating loss to US$12.7 million from US$15.0 million on firmer rubber prices despite lower harvest volumes. At group level, the operating loss improved to US$3.7 million from US$14.4 million.

Foreign-exchange movements generated a US$2.6 million loss, reversing a US$2.5 million gain a year earlier, while finance costs eased 4.7 per cent to US$30.1 million. Income-tax expense rose to US$6.3 million, leaving the group with a loss before tax of US$32.8 million, versus a US$44.5 million loss previously.

Halcyon Agri ended the half with US$52.3 million in cash, down from US$58.7 million at end-2025, after net operating inflows of US$62.0 million were offset by US$62.2 million in financing outflows, mainly loan repayments and interest. Net current liabilities stood at US$540.8 million, while total equity declined to US$199.4 million from US$256.0 million at end-2025.

Looking ahead, the company highlighted ongoing tightness in raw-material supply, heightened competition for latex and cup lump, and persistent geopolitical and economic uncertainties. Management said it will prioritise disciplined procurement, inventory and working-capital management, and will continue to secure financing support from its major shareholders and lenders while focusing on optimising its business mix and maintaining cash flow resilience.