First Resources H1 profit rises 293% to US$128m; declares S$0.025 interim dividend

Over the H1 period, the company harvested 1.63 million tonnes of fresh fruit bunches, up from 1.62 million tonnes a year ago. Crude palm oil (CPO) production declined by 6.6 per cent on year due to reduced purchases of third-party crops, as CPO yield came in at a lower 1.8 tonnes per hectare compared to 1.9 tonnes per hectare the previous year. The group said it believes stockpiles in Indonesia should normalise in the coming months as the government continues its bid to boost palm oil exports though the easing of its Domestic Market Obligation policy and reduction in export taxes. Shares of First Resources ended Thursday S$0.02 or 1.4 per cent lower at S$1.43.