First Resources’ underlying net profit rises 19.3% YoY

The underlying net profit for the period was $82m.

First Resources reported an underlying net profit of $82m (US$61.0m) for Q3 2024, up 19.3% year-on-year (YoY) from $67m (US$51.1m) in Q3 2023.

This growth was due to higher sales and EBITDA which grew 2.3% QoQ and 27.8% QoQ, respectively.

Sales for the period reached $341m (US$253.9), whilst EBITDA rose to $142m (US$105.9m).

For 9M 2024, underlying net profit grew 27.6% YoY to $204m (US$151.6m) from $159.6m (US$118.8m), whilst sales and EBITDA grew 2.0% and 26.9% respectively.

Overall growth was mainly driven by higher average selling prices, as well as improved processing margins. 

As of 30 September, equity attributable to owners of the company amounted to $1.88m (US$1.4m), a 6.7% increase from the $1.74m (US$1.3m) on 31 December 2023.