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First Resources 1H21 earnings falls 16.7% y-o-y to US$32.6 mil on higher export taxes

Atiqah Mokhtar
Atiqah Mokhtar8/13/2021 08:15 AM GMT+08  • 3 min read
First Resources 1H21 earnings falls 16.7% y-o-y to US$32.6 mil on higher export taxes
First Resources has declared an interim dividend of 1.25 cents per share.
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First Resources has reported 1HFY2021 ended June earnings of US$32.6 million ($44.3 million), declining 16.7% y-o-y from US$39.1 million in 1HFY2020.

Revenue surged 48.4% y-o-y to US$412.9 million, boosted by strong production volumes and palm oil prices.

Following the higher revenue, First Resources’ gross profit jumped 51.9% y-o-y to US$173.3 million. Gross profit margins remained stable at 42%, compared to 41% for the corresponding period the previous year.

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