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First Resources' 1HFY2022 earnings surge nearly four times to US$128.0 mil due to stronger average selling prices

Felicia Tan
Felicia Tan8/12/2022 08:52 AM GMT+08  • 3 min read
First Resources' 1HFY2022 earnings surge nearly four times to US$128.0 mil due to stronger average selling prices
The group has declared an interim dividend of 2.50 cents per share for the 1HFY2022. Photo: Bloomberg
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First Resources has reported earnings of US$128.0 million ($175.3 million) for the 1HFY2022 ended June, nearly four times higher than the earnings of US$32.6 million in the same period the year before.

Earnings per share (EPS) stood at 8.11 US cents on a fully diluted basis.

Total sales increased by 29.6% y-o-y to US$535.2 million due mainly to the higher average selling prices (ASPs) and offset by lower sales volumes from a build-up in inventory during the period.

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