Published:
Wilmar's net profit down 12.3% to $1.7b in in FY14
On back of weaker CPO prices.
Wilmar’s net profit declined 12.3% to $1.7b (US$1.26b) in FY14, primarily due to margin contraction in Palm and Laurics during the first nine months of FY14 as well as the lower soybean crushing margins.
Revenue decreased 2.3% to $58.5b (US$43.1b) in FY14 mainly due to lower average selling price in consumer products and also lower palm prices in the fourth quarter.
Correspondingly, costs of sales decreased 8.5% to $13.2b (US$9.7b) in the fourth quarter and 2.7% to $53.32b (US$39.3b) FY14.
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