Haze-linked First Resources, Bumitama post higher profits for Q3
The companies expect demand for palm oil to remain supported in the coming year
Two palm oil companies connected to the October haze incident disclosed higher earnings for the third quarter ended September 30, 2026. First Resources reported a 40.1% rise in underlying net profit to US$122.7 million, driven by increased sales of palm oil products and fruit bunches. Sales grew 24.9% to US$578.6 million, while Ebitda increased 26.6% to US$207.4 million.
The company expects demand for palm oil to remain strong due to Indonesia's biodiesel program and high crude oil prices. Bumitama saw a 2% increase in net profit to 614 billion rupiah (US$34 million) for the quarter, with nine-month earnings up 31% to 2.4 trillion rupiah. Revenue rose 10% to 4.2 trillion rupiah for the quarter, and 20% for the nine months.
However, exceptionally dry weather in Kalimantan affected logistics and shipments, reducing third-quarter revenue. Both companies committed to a zero-burning policy and cooperation with authorities in relation to the haze.
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