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am back to adopt more babes.....gd 3q results....RHB BUY CALL WTH TP 1.45....UOB BUY CALL WTH TP 1.75.....
Funds seems by passing agri stocks for now, need patience..
First Resources reports 33.0% higher 3Q net profit of US$37.1 mil on higher average selling prices and higher sales volumes
First Resources has reported net profit of US$37.1 million ($50.1 million) for the 3QFY2020 ended Sept 30, some 33.0% higher than the US$27.9 million reported a year ago.
3QFY2020 earnings before interest taxes depreciation and amortization (EBITDA) was up 15.5% y-o-y to US$71.4 million, while sales registered a 20.7% growth y-o-y to US$166.1 million for the period.
For the 9MFY2020, net profit rose 40.6% y-o-y to US$80.3 million. EBITDA climbed 24.4% y-o-y to US$178.3 million while sales inched up 3.2% y-o-y to US$444.3 million.
The stronger performance was attributable to the higher average selling prices (ASPs) achieved this year, while the improvement in topline performance for 3QFY2020 was also due to higher sales volumes during the quarter.
Sales volumes for 9MFY2020, however, came in lower compared to the same period a year ago from the effects of lower purchases of crude palm oil (CPO) from third parties and a net inventory build-up of 24,000 tonnes in 9MFY2020 compared to a net drawdown of 16,000 tones in 9MFY2019.
Equity attributable to owners fell by 6.2% to US$979.4 million as at Sept 30, compared to the US$1.04 billion as at Dec 31, 2019. The decline was mainly due to the foreign currency translation losses from the depreciation of the Indonesian rupiah against the USD during the period.
The group&rsquo s financial position remains healthy with net gearing ratio at 0.27 times and cash and bank balances of US$174.4 million as at Sept 30.
According to the group, the recovery in palm oil prices has been partly driven by lower-than-expected supply of palm and other edible oils. Restocking of tight palm oil inventories by importing countries such as China and India, as well as the rise in competing edible oil prices, has also been positive to palm oil demand and is expected to continue to be supportive of prices.
&ldquo The group is cautiously optimistic of the supply-demand dynamics of the palm oil industry and will continue to keep watch on macroeconomic developments that may influence agricultural commodity prices,&rdquo it says.
Q3 RESULTS
http://www.first-resources.com/upload/file/20201112/20201112231851_95497.pdf
http://www.first-resources.com/upload/file/20201112/20201112231851_95497.pdf
Yes, about time to wake up
halleluyah ( Date: 11-Nov-2020 09:39) Posted:
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mkt float is abt 11% niah....coy kept buy back shares agak fr delisting to collect rock bottom px....expect tis coming results gonna be good just like wilmar n bumitama....am holding....
rainbowman ( Date: 10-Nov-2020 19:57) Posted:
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How is it this counter not moving, despite significant rise in palm oil prices last few months? Something's off..
CheeryVGoh ( Date: 10-Nov-2020 18:32) Posted:
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Sis,
First Resources' sister results Q3 results is good..
Bumitama Agri: It announced on Tuesday higher revenue and net profit for the first nine months of its fiscal year from a year ago, on higher prices of palm oil. Net profit attributable to owners of the company rose 48.8 per cent to 632.14 billion rupiah (S$60.6 million) for the nine-month period ended Sept 30, 2020. Its shares closed up 0.5 Singapore cent or 1 per cent to 51.5 cents on Monday.
halleluyah ( Date: 10-Nov-2020 16:59) Posted:
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got some.....
yeah....coming.....
ghetto ( Date: 06-Nov-2020 16:33) Posted:
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yesterday palm oil px hit high of rm 3227....is going higher as yr end festival season coming....
halleluyah ( Date: 10-Nov-2020 09:03) Posted:
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buy rock bottom px babe....shld be heading 1.70 lvl....palm oil px heading up so much compare to mths ago....
130 soon soon...watch it!
waiting 0pen big mouth makan all 1.25....
CHEONG ARHHHH........hope coy buy back again..........
last chance to get low px....will be heading up....
makan lah 1.22....usually q4 will be even higher fr demand....hope coy delist it....
halleluyah ( Date: 05-Nov-2020 09:01) Posted:
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add some as px still so cheap at rock bottom....palm oil px RM3070 n is on the rise....
rebound shld be coming soon...
expect q3 profit to be up as higher palm oil px.....wilmar nett profit up 20%...tis babe is really at bottoming px doe 1h profit aredi up abt 49%...haiz no wonder sicko sti was awarded best mkt in asia after overtakes thailand....damn sia sui....
wah8869 ( Date: 24-Aug-2020 22:47) Posted:
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