First Resources' Q2 profit rises nearly 10%

FIRST Resources turned in a net profit of US$28.64 million, up 9.8 per cent year on year, for the second quarter ended June 30.

Revenue edged up 5.9 per cent to US$118.79 million, thanks to higher sales volume of palm-based products, while earnings per share clocked 1.81 US cents, up from 1.65 US cents a year ago.

For the six month period, net profit slid nearly 21 per cent to US$56.33 million, while revenue was about 26 per cent lower at US$215.07 million due to both the lower selling prices of palm-based products and lower sales volumes from the refinery and processing segment.

First Resources declared an interim dividend of 1.25 Singapore cents, payable on Sept 18.