Haze-linked First Resources, Bumitama post higher profits for Q3

Résumé détaillé

First Resources and Bumitama post higher Q3 profits as palm oil demand, biodiesel support earnings and haze concerns continue. Read more at straitstimes.com.

First Resources posted a 40.1% rise in its underlying net profit to US$122.7 million for the third quarter.

SINGAPORE – Two palm oil companies linked to the transboundary haze in October reported higher profits for the third quarter ended Sept 30, in separate business updates published on the morning of Nov 13.

Palm oil producer First Resources posted a 40.1% rise in its underlying net profit to US$122.7 million (S$158 million) for the third quarter of 2026, from US$87.5 million in the year-ago period.

The increase was boosted by higher sales of palm oil products and fruit bunches harvested from oil palms, it said.

Sales were up 24.9% at US$578.6 million for the quarter, compared with US$463.3 million in the third quarter of 2025.

Earnings before interest, taxes, depreciation and amortisation rose 26.6% to US$207.4 million in the third quarter of 2026, up from US$163.8 million a year ago.

For the nine months ended Sept 30, sales grew 36.5% year on year to US$1.6 billion, driven by higher sales volumes.

A net inventory drawdown of 28,000 tonnes over the nine-month period, compared with a build-up of 80,000 tonnes in the corresponding period in 2025, also supported higher sales volumes.

The group’s stronger production output in the first nine months of 2026 was also attributable in part to the full nine-month contribution from Austindo Nusantara Jaya, an Indonesian agribusiness company acquired in May 2025.

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