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Wilmar Q1 profit down 12.7% on market slide in investments

But core profit is up by 22.5% on stronger consumer product sales and tropical oil downstream operations

Annabeth Leow

Published Mon, May 11, 2020 · 09:50 PM

Singapore

MAINBOARD-LISTED agri-business group Wilmar International saw profit tumble in the first quarter from mark-to-market losses on investment securities, it said in an update on Monday.

Net profit was down by 12.7 per cent year-on-year at US$224.3 million for the three months to March 31, even as revenue rose by 4.6 per cent to US$10.9 billion.