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The latest FFB production figures for Oct showed 18.2% y-y blended growth, and, for 10M13, FFB production grew 3.8% y-y. Mgt said that Oct was FR?s peak production month and Nov and Dec?s FFB growth will be lower y-y, and at best, production will rise 5% y-y in 2013. FR will buy more third-party FFB to keep its mills running above 60% utilisation. For 2013, BNP lowers FFB growth to 3% y-y (from 10%) while in 2014, it now expects 13% y-y FFB growth (15%). Nevertheless the house keeps its TP of $2.76, based on 14.7x FY14e P/E. Maintains its Buy rating as FR still has an attractive oil palm age distribution ? 69% of trees are in the maturity stage.
First Resources' Q3 net profit down 20%
First Resources on Wednesday posted a 20 per cent drop in net profit to US$51.4 million for its third quarter ended September 30, 2013.
The palm oil producer's earnings per share fell in tandem to 3.25 US cents, from 4.06 US cents a year ago.
The decline in profit was mainly due to lower average selling prices and losses on foreign exchange, it said. The group recorded forex losses of US$8.1 million in the quarter compared to gains of US$2.6 million a year ago due to the 15-per-cent depreciation of the Indonesian rupiah against the USD in Q3 which affected its USD-denominated intercompany liabilities.
Revenue climbed a marginal 0.8 per cent to US$153 million on higher sales volumes from its plantations and palm oil mills segment, partially offset by lower average selling oil prices from the refinery and processing segment.
Ran :)
lglg666 ( Date: 08-Nov-2013 12:20) Posted:
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Will run fast fast....
lglg666 ( Date: 05-Nov-2013 21:02) Posted:
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Yes...spot on! Where will it goes from here now?
hello123 ( Date: 01-Nov-2013 14:56) Posted:
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First Resources , having fell from 194 to our target of 181 stated in 18 sept post , has rebounded strongly .. now 204 ..
for more details , see http://sgxswinger.blogspot.sg/
hello123 ( Date: 18-Sep-2013 00:30) Posted:
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barely 3 weeks past sgxswinger short call, first resources fell from 194 to now 181.5 ...
bouncing at each reaction point ( 190, 186 etc ) along the way ...
for more details , see http://sgxswinger.blogspot.sg/
hello123 ( Date: 18-Sep-2013 00:30) Posted:
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as predicted , first resources fell from 194 to 190 to bounce [to 197] , then proceed on downward trajectory to 186 to bounce, now 188.
for more details , see http://sgxswinger.blogspot.sg/
hello123 ( Date: 18-Sep-2013 00:30) Posted:
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first resources did fall as predicted from 194 on day of last post below wed down to 190 on friday to bounce to 197 for more details , see http://sgxswinger.blogspot.sg/
hello123 ( Date: 18-Sep-2013 00:30) Posted:
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First resources , now 194 , may fall to 189-190 bounce then 186 then 181-182.
for more details , see http://sgxswinger.blogspot.sg/
First Resources is moving up. Any good news eh?
PALM oil producer, First Resources Limited, reported on Tuesday that its net profit for the second quarter ended June 30, 2013 fell 25.7 per cent from a year ago to US$37.70 million.
Sales fell 21.6 per cent to US$119.68 million during the quarter, mainly due to the lower sales volumes and average selling prices from the refinery and processing segment.
For the first six months of 2013, net profit was up 1.6 per cent from a year ago at US$101.27 million.
Sales slipped 7.3 per cent to US$294.32 million.
http://www.remisiers.org/cms_images/research/July15-July19_2013/1607_DBS_1st_Res.pdf
Time: 8:58AM
Exchange: SGX
Stock: FirstRes(EB5)
Signal: Bullish MACD Centerline Crossover
Last Done: $1.845
Exchange: SGX
Stock: FirstRes(EB5)
Signal: Bullish MACD Centerline Crossover
Last Done: $1.845
Can someone share wat hapen to this stock? I tot its consolidatn for prop stocks? How come first res also kena? Is it gg to be like indoagri???
Wow, you are right, already reach $2.00! Congrats to all who are holding! 
tradermonster ( Date: 05-Apr-2012 22:17) Posted:
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