First Resources’ net profit surges 45.4% in H1 2024

Sales for the period increased 1.9%.

First Resources reported a 45.4% year-on-year (YoY) rise in net profit to $104m in H1 2024 from $71.5m a year ago.

Sales for the period rose slightly by 1.9% YoY to $457.2m from $448.8m in H1 2023 whilst gross profit grew 18.9% YoY to $186.7m compared to $157.0m in the previous period.

In addition, the company’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) increased 26.3% to $167.8m from $132.9m in H1 2023.

First Resources’ production segment harvested 1,648,455 tonnes of Fresh Fruit Bunches (FFB for the period, growing 5.9%. Crude palm oil (CPO) production also increased 5.8% to 430,246 tonnes.

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