, Singapore
218 views
Photo from Envato Elements

Wilmar International’s net profit up 5.2% in H1 2024

The increase was due to better performances in the Feed & Industrial Products and Food Products segments.

Wilmar International posted a net profit of $763.7m (US$579.6m), up 5.2% year-on-year (YoY) to $725.9 (US$550.9m) in H1 2024 amidst better performances in the Feed & Industrial Products and Food Products segments, partially offset by lower contributions from Joint Ventures & Associates and sugar milling operations. 

Profit from the Feed & Industrial Products segment rose 34% YoY to $703.6m (US$534.0m), whilst the Food Products segment saw a 77% YoY increase to $192.7m (US$146.3m).

Meanwhile, the Plantation & Sugar Milling segment recorded a 14% YoY decline to $71m (US$53.9m) in profit.

In addition, shares from Joint Ventures & Associates declined 58% YoY to $109.6m (US$83.2m) due to lower contributions from the Group’s investments in Europe, China, and Africa. 

Overall revenue declined 4.9% YoY to $40.7b (US$30.9b) from $42.8b (US$32.54b) a year ago as revenue across all core segments dropped due to rising commodity prices.

Earnings per share stood at $0.012 (US$0.093).

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Exclusives

Lorem Ipsum Singapore Business Review
The text to display in the title bar of a visitor's web browser when they view this page. This meta tag may also be used as the title of the page when a visitor bookmarks or favorites this page, or as the page title in a search engine result. It is common to append 'Singapore Business Review' to the end of this, so the site's name is automatically added. It is recommended that the title is no greater than 55 - 65 characters long, including spaces.The text to display in the title bar of a visitor's web browser when they view this page. This meta tag may also be used as the title of the page when a visitor bookmarks or favorites this page, or as the page title in a search engine result. It is common to append 'Singapore Business Review' to the end of this, so the site's name is automatically added. It is recommended that the title is no greater than 55 - 65 characters long, including spaces.
Lorem Ipsum 2
Contrary to popular belief, Lorem Ipsum is not simply random text.