First Resources Q1 profit soars 53.1% on higher output and sales
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First Resources Limited reported a 53.1% YoY increase in Q1 net profit to $123.41m, driven by a 20% rise in FFB and a 34.5% increase in crude palm oil production. EBITDA rose 54.9% to $211.70m, with sales up 70.4% to $609.66m. The company noted higher production volumes due to its acquisition of PT Austindo Nusantara Jaya Tbk. However, geopolitical tensions have raised operating costs, while elevated energy prices have boosted demand for palm oil in biofuels.
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Source: Singapore Business Review The copyright of this article belongs to the original author/organization.
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