The company’s nucleus fresh fruit bunches (FFB) production grew 2.2% y-o-y in FY2022, in line with RHB’s growth projections and the company’s guidance. Its high inventory build up was also disposed of in 4QFY2022.
Analysts at UOB Kay Hian and RHB Group Research have trimmed their target prices on First Resources (SGX:EB5
) to $1.55 and $1.60 respectively after the planter announced its 2HFY2022 results.
In their March 2 note, RHB analysts have maintained “neutral” on the stock, pointing out that First Resources’ FY2022 results came largely within expectations.
