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First Resources a fertile pick in plantations sector

Jude Chan
Jude Chan11/10/2016 04:18 PM GMT+08  • 2 min read
First Resources a fertile pick in plantations sector
SINGAPORE (Nov 10): Analysts are staying positive on First Resources following strong performance from the Indonesia-based oil palm plantation in 3Q.
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SINGAPORE (Nov 10): Analysts are staying positive on First Resources following strong performance from the Indonesia-based oil palm plantation in 3Q.

First Resources saw 3Q16 core net profit grow 13.7% y-o-y to US$36.0 million ($50.4 million), while revenue surged 40.6% y-o-y to US$151.5 million.

“FR is one of our preferred picks in the plantation sector for its cost efficiency and hands-on management,” says UOB Kay Hian lead analyst Ooi Mong Huey in a Thursday report.

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