Wilmar International profits rise 10% to $608.4m in Q3

It sold off its discontinued operations in Brazil.

Agribusiness firm Wilmar International saw its net profit rose 10% YoY to $608.4m (US$447.1m) in Q3 from $552.34m (US$405.9m) in 2018, driven by stronger performance from its tropical oils and consumer products segments, an announcement revealed.

The firm also posted gains from the disposal of its discontinued operations in Brazil. Crushing operations also said to have performed better than expected. Profit growth was partially offset by lower contributions from associates and joint ventures.

Overall sales volume inched up 6% YoY, whilst revenue dipped 2% YoY to $15.19b (US$11.16b) in Q3 from $15.54b (US$11.42b). The revenue slump was blamed on lower commodity prices during the quarter.

Also read: Wilmar International's profit dropped 52.3% to $150.88m in Q2

As for the 9M period, the group hit core net profit of $1.15b (US$846.4m), down from $1.32b (US$968.5m) in 9M 2018. Overall sales volume during the same period grew 5%, whilst revenue slid 6% YoY to $42.71b (US$31.39b) from $45.33b (US$33.31b).

Wilmar’s tropical oils segment reported the fastest growth in pre-tax profit at 24% YoY to $262.9m (US$193.2m) in Q3, boosted by strong performance from the manufacturing and merchandising business, including oleochemicals. It also saw higher sales volume and improved processing margins during the quarter, but was partially offset by lower crude palm oil (CPO) prices and production yields, reducing contributions from the plantations business.

The oilseeds & grains registered a 1% YoY increase in pretax profit to $410m (US$301.3m) over the same period, mainly due to good performances by both manufacturing and consumer products. The group’s sugar operations saw its pre-tax profit edge up 9% YoY to $109m (US$80.1m) in Q3, supported by its sugar refineries.

On the other hand, the others segment recorded a pre-tax loss of $28.17m (US$20.7m) in Q3, no thanks to mark-to-market losses from the group’s investment portfolio and corporate costs. Wilmar’s joint ventures & associates also posted lower contributions at $33.75m (US$24.8m) from $90.36m (US$66.4m) because of weaker performance from the group’s investments in Africa, India and Vietnam.

You're the reader we write for. You're also the person our partners want to reach.

If that sentence describes you — a founder, a C-suite, someone whose attention companies pay good money for — then you already understand why SBR works. We've spent twenty years earning the trust of readers exactly like you. Which is exactly what makes this an interesting place for your company to show up, too.

The ways it can show up are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The right fit depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If your company has something this audience should know about, we'd like to hear what you're working on.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia

Top News

30 One-Sentence Stories From People Who Have Built Better Habits

None of these stories are mine. They were sent to me by readers of Atomic Habits. My hope is that these examples will illustrate how real people are putting the book into practice. They will show you what people are actually doing to build good habits and break bad ones. And hopefully, they will spark some ideas for how you can do the same.

news conversion

SBR 5 Lorem Ipsum News 2 [8 May]

Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.

SBR 4 Lorem Ipsum [8 May Top Stories]