Wilmar's Q1 profit up 3.2% despite revenue fall
It expects higher crude palm oil prices to benefit plantation business; higher feedstock costs will lead to lower margins in downstream businesses
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Singapore
WILMAR International's net profit grew 3.2 per cent in the first quarter despite a drop in revenue, as its cost of sales fell even more and its investment securities delivered a gain versus a loss last year.
The palm oil processor recorded net profit of US$239.4 million for the three months ended March 31, up from US$232 million a year ago. This translates into earnings of 3.8 US cents per share, compared with 3.6 US cents in the same period last year.
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