February 24, 2011

Wilmar's Q4 net profit shows decrease

Fourth quarter net profit for Wilmar International declined 28% on-year to US$318.6 million.

This despite revenue for the period ended December rising 31.4% to US$9.08 billion.

For the full year, net profit declined 29.7% to US$1.3 billion despite a 27.3% increase in full year revenue to US$30.3 billion.

The firm said the decline in net profit was largely due to weaker performance in the Oilseeds & Grains segment. Despite the weaker performance for the year, Wilmar said it is optimistic going forward as the outlook for Asian economies especially China, India and Indonesia remains positive and commodity prices are expected to remain firm.