Excluding the ANJ acquisition, First Resources highlighted that fresh fruit bunches harvest and crude palm oil production would have increased by 8.1% and 12.6% respectively.
First Resources has announced a 58% y-o-y increase in its underlying profit to US$239.6 ($311.8) million for the nine months ending Sept 30. In a business update, the Indonesia-based palm oil company says overall revenue in the same period was up by nearly 60% to nearly US$1.14 billion from US$711.1 million. EBITDA rose 55.7% to US$426 million.
The growth was attributed to sustained palm oil prices and higher production volumes, which were backed by organic growth in yields and contribution from recently acquired PT Austindo Nusantara Jaya, Tbk (ANJ).
