The Straits Times / The Business Times News on GMG

GMG Global warns of worse results Aug 03, 2002 The Business Times PLANTATION group GMG Global has warned that its results for the second half ended June 30, 2002, will be substantially worse than those in the first half. It blamed lower production caused by the effects of the El Nino climatic phenomenon on operations in West and Central Africa, unrealised foreign exchange loss resulting from the stronger euro, and higher raw material costs caused by tighter supplies and increased competition.