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First Resources reported 43% fall in 1Q earnings to US$27.7 mil

PC Lee
PC Lee5/15/2018 08:34 AM GMT+08  • 2 min read
First Resources reported 43% fall in 1Q earnings to US$27.7 mil
SINGAPORE (May 15): First Resources recorded a 42.8% decline in 1Q18 earnings ended March to US$27.7 million ($37 million) and a 40% drop in profit from operations of US$43.3 million from a year ago.
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SINGAPORE (May 15): First Resources recorded a 42.8% decline in 1Q18 earnings ended March to US$27.7 million ($37 million) and a 40% drop in profit from operations of US$43.3 million from a year ago.

The lower net profit and profit from operations were mainly due to the effects of inventory build-up and lower average selling prices.

Sales decreased by 30.2% to US$135.6 million in 1Q18, reflecting the combined effects of lower sales volumes and average selling prices.

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