First Resources Q3 profit surges 43.5% to US$87.5 million

First Resources reported a 43.5% increase in Q3 net profit to US$87.5 million, driven by higher selling prices and sales volumes. Sales surged 82.5% to US$463.3 million, with EBITDA up 54.7% to US$163.8 million. The company anticipates tighter supply-demand dynamics for palm oil due to subdued production growth and Indonesia's biodiesel mandate. For the nine months ending Sep 30, net profit rose 58% to US$239.6 million, with sales up 59.9% to US$1.1 billion. The company also divested two subsidiaries in West Papua, reducing net debt by US$80 million.