The Dongfang Modern Agriculture Holding Group Ltd (ASX:DFM), which is in the business of supplying tangerines, navel oranges, and pomelos, reported its net loss after tax was $3.1 million. This was $2.2 million higher than the previous corresponding period.
The company says this was primarily due to its dividend withholding tax payment of $2 million, associated with the 31 December 2015 year-end final dividend.
Despite that, the company expects the upcoming harvest output to exceed its previous year’s record of 240,000 tonnes.