Diversification may be Wilmar's trump card
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WHAT had seemed like a ghost of the past has come back to haunt Wilmar International.
After six consecutive quarters of profits in its oilseeds division, its recently released first-quarter results showing negative margins for its soybean processing operations have yet again stunned the market, causing its share price to slide as much as 5.4 per cent to $3.16 amid a few downgrades by analysts. The stock recovered slightly yesterday to end at $3.23.
Wilmar's first-quarter net pro-fit tumbled 49 per cent to US$161.8 million, while revenue was little changed at US$10.3 billion.
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