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First Resources' fresh fruit bunch shows decent recovery in Q4
It will return to its normal growth this year.
First resources closed its 2016 with its fresh fruit bunch output declining by 6.4%, an improvement from the guidance of a 10% decline.
According to RHB, FFB production showed a decent recovery in 4Q16, rising 12% QoQ from 3Q and 14% YoY.
"Going forward, we expect First Resources’ FFB growth to return to its normal from FY17, as its trees fully recover from the El Nino impact," the firm said.
RHB noted that First Resources could clock in a 5-10% growth in FFB production for the next two years.
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