Home Capital Results

First Resources reports 9.8% rise in FY17 earnings to US$139.5 mil; proposes special dividend of 3.40 cents for 10th anniversary

PC Lee
PC Lee2/26/2018 10:17 PM GMT+08  • 2 min read
First Resources reports 9.8% rise in FY17 earnings to US$139.5 mil; proposes special dividend of 3.40 cents for 10th anniversary
SINGAPORE (Feb 26): First Resources, the Indonesia-based palm oil producer, reported full-year earnings rose 9.8% to US$139.5 million ($183.9 million) from a year ago while underlying net profit rose 20.8% to US$139.5 million in FY17. This came on the bac
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

SINGAPORE (Feb 26): First Resources, the Indonesia-based palm oil producer, reported full-year earnings rose 9.8% to US$139.5 million ($183.9 million) from a year ago while underlying net profit rose 20.8% to US$139.5 million in FY17. This came on the back of a 12.5% growth in sales to US$647.0 million.

The improved topline performance in FY17 was largely boosted by stronger sales volumes and higher average selling prices of both crude palm oil (CPO) and refined products as compared to the same period in FY16.

Correspondingly, the group’s EBITDA rose 16.2% to US$292.1 million in FY17. Plantations and Palm Oil Mills contributed 5.9% higher EBITDA of US$272 million while Refinery and Processing returned to profitability with EBITDA of US$18.6 million.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.
Unlock unlimited access to premium articles with less than $9 per month. Subscribe Now