, Singapore

Soybean crush knocks down Wilmar's 1Q profits

Net profit tumbled 49% to US$161.8m.

According to OCBC Investment Research, Wilmar International Limited (WIL) made a dismal start to FY14, with reported net profit tumbling 49% YoY and 56% QoQ to US$161.8m, hit by negative soybean crush margin and lower demand for soybean meal; also higher seasonal losses in its Sugar business.

Excluding exceptional items, core earnings came in around US$215m, still down 32% YoY and 39% QoQ, meeting just 15% of our FY14 forecast. Revenue of US$10,268.6m (+1% YoY but down 12% QoQ) met 22% of our full-year forecast.

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!