Sterling Plantations Limited reported consolidated earnings results for the half year ended Dec. 31, 2013. For the period, the company reported revenue of AUD 210,539 compared to AUD 430,770 a year ago.

Loss before income tax was AUD 3,617,879 compared to profit before income tax of AUD 9,900,028 a year ago. Loss after tax attributable to members of the entity was AUD 3,834,447 or 5.90 cents per basic and diluted share compared to profit after tax attributable to members of the entity of AUD 6,835,079 or 10.51 cents per basic and diluted share a year ago. The loss arose mainly due to increased expenditure incurred for plantation development.

This is in line with the group's objective to accelerate activities at the plantation division. The loss was off-set slightly by a net gain recognised arising from changes in the fair value of the group's biological assets. Net cash flows used in operating activities was AUD 3,646,587 compared to AUD 4,107,432 a year ago.

Purchase of property, plant and equipment was AUD 1,122,952 compared to AUD 365,312 a year ago. Plantation expenditure was AUD 330,894 compared to AUD 1,048,347 a year ago.