Shares of First Resources Ltd (EB5.SI) surged 3.42% in pre-market trading on Thursday, following the release of impressive quarterly financial results. The Singapore-based palm oil producer's strong performance has caught the attention of investors, driving the stock price upward.
First Resources reported a robust quarterly net profit of $63.1 million, showcasing the company's ability to maintain profitability in the competitive palm oil sector. Additionally, the firm announced quarterly sales of US$280.0 million, indicating solid revenue generation and market demand for its products.
The positive financial results have bolstered investor confidence in First Resources' business model and growth prospects. As the trading day progresses, market participants will be closely watching to see if the stock can maintain its upward momentum and potentially extend its gains.
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