First Resources Q3 profit slips 28.5%

Singapore

FIRST Resources on Tuesday posted a 28.5 per cent drop in net profit to US$27.9 million for its third quarter ended Sept 30, from US$39 million a year ago, mainly due to weaker palm oil prices.

Earnings per share stood at 1.76 US cents for the quarter, down from 2.46 US cents a year ago, according to the palm oil producer's financials.