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First Resources posts 28.5% drop in 3Q earnings to $38 mil

Samantha Chiew
Samantha Chiew11/12/2019 11:09 AM GMT+08  • 2 min read
First Resources posts 28.5% drop in 3Q earnings to $38 mil
SINGAPORE (Nov 12): First Resources saw a 28.5% drop in its latest 3Q19 earnings, which came in at US$27.9 million ($38.0 million), compared to US$39.0 million in 3Q18.
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SINGAPORE (Nov 12): First Resources saw a 28.5% drop in its latest 3Q19 earnings, which came in at US$27.9 million ($38.0 million), compared to US$39.0 million in 3Q18.

This came on the back of a 19.7% fall in sales to US$137.6 million from US$171.4 million a year ago.

The revenue decline was mainly due to lower sales contribution from all the groups segments – plantations and palm oil mills; refinery and processing; and inter-segment elimination – which saw lower average selling prices. But this was partially offset by higher sales volume.

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