DBS keeps Buy rating for First Resources stock

Published on 10/13/2026 at 01:05 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Revenue rose 44.50 percent to USD 973.60 million in the first half of 2026. For First Resources stock, the dividend rose 77.80 percent to SGD 0.08.

Key points in brief

DBS maintained a Buy rating for First Resources in October 2026.
First-half 2026 revenue rose 44.50 percent to USD 973.60 million.
Underlying net profit increased 42.20 percent to USD 216.20 million.
The interim dividend rose 77.80 percent to SGD 0.08 per share.
The last Lang & Schwarz euro price was EUR 3.06 on October 12, 2026.

First Res, SG1W35938974, Illustration mit AI erstellt.

DBS maintained a Buy rating on First Resources stock in a report covered by The Globe and Mail on October 9, 2026. The analyst action follows First Resources' first-half 2026 revenue growth of 44.50 percent to USD 973.60 million and underlying net profit growth of 42.20 percent to USD 216.20 million.

Three dated milestones and figures

On February 27, 2026, the 2025 financial calendar showed revenue of USD 1.661 billion, according to MarketScreener. On August 14, 2026, the company reported first-half revenue of USD 973.60 million, while underlying net profit reached USD 216.20 million, as Yahoo Finance reported.

Also on August 14, 2026, the interim dividend was raised to SGD 0.08 per share from SGD 0.045, a 77.80 percent increase, according to Yahoo Finance. The sequence shows why the payout became central to the equity story: earnings growth and cash generation improved in the same reporting period.

What supports the dividend?

Free cash flow swung to USD 100.60 million in the first half of 2026 from negative USD 84.70 million a year earlier. The Smart Investor also reported that USD 115.40 million of the company's USD 229.20 million cash balance remained subject to Indonesian export proceeds rules.

That comparison gives the dividend increase a stronger cash-flow foundation than a payout funded only by accounting earnings. It also leaves investors with a concrete counter-factor: restricted cash represents 50.35 percent of the reported balance, calculated from USD 115.40 million divided by USD 229.20 million.

When are the next results due?

First Resources is scheduled to publish third-quarter 2026 results on November 13, 2026, according to MarketScreener. The next report will test whether the first-half combination of 44.50 percent revenue growth and USD 100.60 million free cash flow extended into the second half.

Singapore price stays below yearly high

The Singapore Exchange quote was last at SGD 4.40 on October 12, 2026. The 52-week range was SGD 1.67 to SGD 5.24, placing the quote 16.03 percent below the high based on the same market snapshot.

The last available euro price at Lang & Schwarz was EUR 3.06 on October 12, 2026 at 10:57 p.m. CEST. The further course of trading is shown by the continuously updated real-time quote of First Res stock.