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Singapore's Wilmar Q1 net profit up 23 pct on oilseeds, grains
by hlk Wed 08 May 2013, 13:26
Business & Markets 2013
Written by Reuters
Wednesday, 08 May 2013 12:27
A + / A - / Reset
SINGAPORE (May 8): Singapore palm oil firm Wilmar International Ltd
reported a 23 percent rise in first-quarter net profit on Wednesday,
largely due to a recovery in its oilseeds and grains segment.
The company also said the bird flu outbreak in China will affect meal
consumption in the short term but it remains optimistic about the
long-term prospects of the country.
Wilmar posted net profit of $315.4 million for the three months ended
March, up from $255.9 million a year earlier and above the $291 million
average estimate from four analysts polled by Reuters.
While palm oil prices are likely to remain low, affecting the PLANTATION
[] division's profitability, the declining price trend is expected to benefit
the downstream businesses, Wilmar said.
Written by Reuters
Wednesday, 08 May 2013 12:27
A + / A - / Reset
SINGAPORE (May 8): Singapore palm oil firm Wilmar International Ltd
reported a 23 percent rise in first-quarter net profit on Wednesday,
largely due to a recovery in its oilseeds and grains segment.
The company also said the bird flu outbreak in China will affect meal
consumption in the short term but it remains optimistic about the
long-term prospects of the country.
Wilmar posted net profit of $315.4 million for the three months ended
March, up from $255.9 million a year earlier and above the $291 million
average estimate from four analysts polled by Reuters.
While palm oil prices are likely to remain low, affecting the PLANTATION
[] division's profitability, the declining price trend is expected to benefit
the downstream businesses, Wilmar said.
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