First Resources Limited has announced a significant financial upturn for the first half of 2026, with revenue soaring 44.5% to $973.6m. This growth is attributed to increased production volumes and improved processing margins. The company’s EBITDA rose by 31.3% to $344.4m, whilst the underlying net profit surged 42.2% to $216.2m.
The company’s enhanced performance is largely due to the full six-month contribution from PT Austindo Nusantara Jaya Tbk., acquired in May 2025. Fresh fruit bunches (FFB) harvested increased by 10.2% to 2,234,776 tonnes, and crude palm oil (CPO) production rose by 18.4% to 656,605 tonnes. Both FFB and CPO yields remained stable at 9.6 tonnes per hectare and 2.1 tonnes per hectare, respectively.
First Resources has declared an interim dividend of 8.00 Singapore cents per share, reflecting its strong financial standing. The company maintains a healthy balance sheet with a gross gearing ratio of 0.53 times and cash reserves of $229.2m as of 30 June 2026.
CEO Ciliandra Fangiono noted the impact of Indonesia’s palm oil export framework on market stability, highlighting the framework’s focus on transparency and pricing discipline. He also pointed out that geopolitical tensions and Indonesia’s B50 biodiesel mandate could influence future CPO demand and pricing.
First Resources continues to monitor developing El Nino conditions for potential impacts on palm oil production. The company remains committed to sustainable palm oil production, aligning its operations with industry standards and best practices.
