First Resources' net profit balloons to $67.9m

Higher sales volume across segments boosted its yields.

Agri-player First Resources booked a total of $67.9m (US$48.5m) in net earnings for the past year, up 741% YoY from last year.

According to DBS Group Research, the strong performance was driven by both higher sales volume and price across all its segments.

Its earning before interest, tax, depreciation and amortisation (EBITDA) for refining & processing returned to profitability at $10.2b (US$7.3b) from $11.4b (US$8.1b) losses in the previous quarter. This is due to 6% growth in prices and 9% expansion in sales volume.

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