SGX-listed First Resources Limited booked net profit of US$48.5 million in the first quarter (Q1) of 2017, compared to US$5.3 million profit only in the same period of 2016. Sales jumped 71.6% to US$194.1 million from previous US$113.1 million. The profit jump was mainly driven by higher average selling prices and sales volumes. CPO sales rose 45% to US$104.8 million and palm kernel sales surged 107.2% to US$25.5 million. Sales from refinery and processing jumped 76.6% to US$181.8 million from previous US$103 million. Fresh fruit bunches (FFB) harvested increased by 43.7%. Correspondingly, crude palm oil (CPO) production volumes increased by 33.9%.
