First Resources Delivers Strong Q3 Results on the Back of Price Improvements and Higher Sales Volume
No-moat-rated First Resources reported strong third-quarter results on the back of higher average selling prices and sales volume, with sales revenue, EBITDA and net profit up 40.6%, 25.7% and 26.2% year over year, respectively. The results were in line with our expectation and we expect the company to register a solid performance in the fourth quarter as well, mainly due to rising crude palm oil price supported by tight supply and low palm oil inventories. We keep our key assumptions and earnin...First Resources is an investment holding company. Through its subsidiaries, Co. is engaged in oil palm plantation, palm oil refining and palm kernel crushing, marketing and distribution of palm oil products, investment holding, oil palm seed breeding, aircraft ownership and management, and rubber plantation. Co. and its subsidiaries have two reportable segments: Plantations and Palm Oil Mills, which is involved in the cultivation and maintenance of oil palm plantations and operation of palm oil mills; and Refinery and Processing, which markets and sells processed palm based products produced from the refinery, fractionation and biodiesel plants and other downstream processing facilities.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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