Haze-linked First Resources, Bumitama post higher profits for Q3
Both First Resources and Bumitama reiterated their commitment to upholding a zero-burning policy
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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- Haze-linked First Resources, Bumitama post higher profits for Q3 businesstimes.com.sg
