Wilmar's YKA forecasts 4-4.6b yuan profit for 9M FY2020
YIHAI Kerry Arawana (YKA), the Chinese unit of Wilmar International that is pursuing an initial public offering (IPO), expects to post a profit of between four billion yuan (S$788 million) and 4.6 billion yuan for the nine months ended September (9M FY2020).
This would mark a year-on-year increase of between 15 per cent and 30 per cent in YKA's bottom line, Wilmar disclosed in a bourse filing. The forecast was newly revealed in YKA's updated prospectus, which it submitted for final registration approval for its listing bid on the Shenzhen Stock Exchange's ChiNext Board.
YKA expects its revenue for 9M FY2020 to fall between 131 billion yuan and 137 billion yuan, representing a year-on-year rise of between 5 per cent and 10 per cent.
Meanwhile, its recurring profit attributable to owners is expected to come in at between 3.3 billion yuan and 3.8 billion yuan, up between 15 per cent and 30 per cent on-year.
YKA is one of the largest agri-business and food processing companies in China. Its business includes the processing and sale of kitchen food, feed ingredients and oleochemicals in China.
Wilmar has previously said that the spin-off listing would boost its China operations by increasing its market visibility and awareness among current and potential customers, investors and the public in China.
GET BT IN YOUR INBOX DAILY
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
Shares of Wilmar last traded at S$4.80 on Friday, up 0.21 per cent.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Higher gross rental income, lower expenses boost CICT’s Q1 NPI by 6.3% to S$293.7 million
Stocks to watch: CICT, Seatrium, Keppel DC Reit, UOB
Keppel DC Reit reports 13.7% lower Q1 DPU of S$0.02192
Netflix handily beats subscriber targets, misses on revenue forecast
Meta releases early versions of its Llama 3 AI model
Seatrium unit ordered to pay US$108 million in arbitration over equipment supply contracts