Singapore's First Resources 1H revenue jumps on higher output

First Resources

14/08/2026 24:19

Overview
Singapore palm oil producer's 1H revenue rose 44.5% yr/yr, driven by higher production volumes
Adjusted net income for 1H grew 42.2% yr/yr
Company declared interim dividend of 8.00 Singapore cents per share

Outlook
Company says market uncertainties in Indonesia's palm oil export framework have moderated
Company expects geopolitical tensions to influence CPO demand and pricing in coming months
Company is monitoring El Nino conditions for potential impact on palm oil production

Result Drivers
HIGHER PRODUCTION VOLUMES - Co said increased output, including from PT Austindo Nusantara Jaya Tbk, drove revenue and net income growth
IMPROVED PROCESSING MARGINS - Co attributed financial gains to improved margins on palm oil processing

Company press release: ID:nSN2p8mhG

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Revenue
 
$973.6 mln
 
H1 Adjusted Net Income
 
$216.2 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the food processing peer group is "buy"
Wall Street's median 12-month price target for First Resources Ltd is S$3.68, about 0.1% above its August 13 closing price of S$3.67
The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 11 three months ago

Reuters Recommended Reads
Aug 11 - Malaysia’s SD Guthrie sees El Niño impacting 2027-28 palm oil output
Aug 12 - Wilmar posts higher HY profit on strong growth, flags uncertain operating environment
Aug 13 - India's edible oil imports hit 10-month high in July on festival demand

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)