Wilmar Q4 earnings up 70% at US$560.8m

Singapore

A GOOD showing across all segments and a recognition of deferred tax assets for the Indonesian operations led to Wilmar International's best quarter for 2016 with the final three months of the year registering a 70 per cent surge in net profit to US$560.8 million from US$330.2 million a year ago.

The tropical oils segment was buoyed by higher crude palm oil prices while the oilseeds and grains segments performed well due to stable crushing margins for soyabeans over the period under review. The sugar segment benefited from higher sugar prices and season extension for milling activities, said the group in its results announcement.