First Resources part 2.1

Q2  result wasn't pretty. See their Q2 presentation here. Q2 revenue rose by 5.9% yoy, net profit +9.8% yoy, but EBITDA fell by 6.2% yoy. For 6mth results, revenue dropped by 25.9% and net profit -20.8% yoy. As predicted, refinery business continued to suffer with nearly non-existent margin. 6mth refinery EBITDA fell from 18.4m to 2.3m. … Continue reading First Resources part 2.1

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First Resources part 2

I was indeed lucky to have sold my shares in First Resources in mid July. Its share price has now fallen to 1.83. I didn't foresee this. What could have caused this? CPO price has fallen from around RM 2200/t to now RM 2000-2100/t. Soybean oil price has fallen from around 32 cents to 30 cents/pound. … Continue reading First Resources part 2