Brokers' take
Wilmar International | Sell (Downgrade)
July 20 close: S$3.16
Target price: S$3.05
OCBC Investment Research, July 20
WILMAR International Limited now expects to report a net loss of around US$230 million in Q2 2016 due to "challenging operating conditions" particularly in oilseeds and grains manufacturing and its sugar business segment.
However, Wilmar still expects to be profitable for H1 2016, albeit earnings will be "significantly lower" from a year ago.
Adjusting for the expected Q2 loss, we pare our FY 2016 earnings estimate by 25 per cent and FY 2017 by 5 per cent; this in turn r…
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