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Wilmar to invest in Indian sugar refiner

Q4 earnings down 22.6% to US$369m on higher taxes

Published Thu, Feb 20, 2014 · 10:00 PM
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WILMAR International yesterday said that it is acquiring a stake in India's largest sugar refiner, confirming rumours that had been mounting for months.

The firm, which has made a big push into sugar in recent years, will be investing US$200 million in Shree Renuka Sugars through its fully-owned subsidiary Wilmar Sugar Holdings.

In a separate announcement, Wilmar said its fourth-quarter earnings fell 22.6 per cent to US$369.1 million, on flat revenue and a near-doubling of income tax expenses.

Sales were little changed at US$11.6 bill…

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