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Analysts positive on First Resources' growth despite weak 1Q results

Samantha Chiew
Samantha Chiew5/16/2018 01:16 PM GMT+08  • 2 min read
Analysts positive on First Resources' growth despite weak 1Q results
SINGAPORE (May 16): First Resources reported a 44% fall in 1Q18 earnings to US$27.7 million ($37 million) and a 40% fall in 1Q18 profit from operations to US$43.3 million.
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SINGAPORE (May 16): First Resources reported a 44% fall in 1Q18 earnings to US$27.7 million ($37 million) and a 40% fall in 1Q18 profit from operations to US$43.3 million.

The weaker bottomline was mainly due to the effects of inventory build-up and lower average selling prices (ASP).

Sales decreased by 30.2% to US$135.6 million in 1Q18, reflecting the combined effects of lower sales volumes and average selling prices.

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