Noble Group Ltd. posted the first annual loss in almost two decades as Asia's largest commodity trader wrote down the value of assets amid tumbling raw material prices including coal and sold an agricultural-unit stake for less than the asset was valued on its books. The net loss was $1.7 billion last year compared with profit of $132 million in 2014, Hong Kong-based Noble Group said on Thursday, two days after the company warned of $1.2 billion in impairments. Revenue dropped 22 percent to $66.7 billion last year, falling short of the median estimate of $74.2 billion of nine analysts surveyed by Bloomberg. The full-year loss follows a turbulent 12 months for the trader that saw its shares collapse and debt rating cut to junk by two ratings agencies. Noble Group has been hammered by the commodities plunge and criticisms of its accounting -- all refuted by the Singapore-listed company -- that included the valuations of its long-term contracts. The company said on Thursday before the earnings that the deal to sell its stake in Noble Agri Ltd. would be completed next month with the payment of $750 million. "Now that the disposal of our remaining interest in Noble Agri has become wholly unconditional, our repositioning initiatives are largely finished," Chief Executive Officer Yusuf Alireza said in a statement. "The imminent receipt of $750 million from the agri sale adds to our flexibility and, with the expected successful completion of the re financing of our revolver, we look forward to generating the returns that we know the 'New Noble' is fully capable of." Noble Group's shares fell 1.5 percent to 33.5 Singapore cents on Thursday before the earnings statement. The stock, which was the worst performer on the benchmark Straits Times Index in 2015, has dropped 68 percent over the past 12 months, leaving the company with a market value of S$2.19 billion ($1.56 billion).