PLUNGING commodity prices in 2014 had varying effects on Singapore-listed commodity traders - Wilmar International, Olam International and Noble Group - which reported mixed quarterly results last month.
Despite the commodities patch, for the three months ended Dec 31, 2014, compared to a year ago, Wilmar bucked the trend and recorded a net profit gain, even as revenues fell. Management has attributed the improvement to margin expansion on lower feedstock costs and growth in its downstream businesses.
Over the same period, Olam was hit by a currency devaluation, recording a net profit that was 12 per cent lower than a year ago. Meanwhile, Noble recorded its first quarterly loss in three...