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First Resources posts nine-fold increase in 1Q earnings to US$48.5 mil

Jude Chan
Jude Chan5/11/2017 07:46 PM GMT+08  • 2 min read
First Resources posts nine-fold increase in 1Q earnings to US$48.5 mil
SINGAPORE (May 11): First Resources saw earnings in the first quarter ended March surge by 807.0% to US$48.5 million ($68.4 million), from US$5.3 million a year ago.
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SINGAPORE (May 11): First Resources saw earnings in the first quarter ended March surge by 807.0% to US$48.5 million ($68.4 million), from US$5.3 million a year ago.

This was mainly driven by higher palm oil prices in 1Q, as well as improved production volumes and yields.

Revenue grew by 71.6% to US$194.1 million in 1Q, from US$113.1 million in the corresponding quarter last year.

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