SINGAPORE (Nov 4): Deutsche Bank has projected First Resources to record a 3Q core earnings of US$41 million ($57.2 million), down 5% year-on-year, but up 43% quarter-on-quarter, ahead of its results announcement.

It expects the plantation firm’s 9M FY2015 results to account for 77% and 75% of house and market expectations, respectively.

Deutsche’s forecasts are hinged on the additional US$30 per mt on top of the 3Q15 average crude palm oil (CPO) price of US$526 per mt, as the company has forward sold some 3Q15 production.

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