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Wilmar could see 2018 earnings forecasts upgrade by up to 10%, says UOB Kay Hian

Stanislaus Jude Chan
Stanislaus Jude Chan11/13/2018 01:21 PM GMT+08  • 2 min read
Wilmar could see 2018 earnings forecasts upgrade by up to 10%, says UOB Kay Hian
SINGAPORE (Nov 13): UOB Kay Hian is keeping its “buy” call on agribusiness group Wilmar International with an unchanged target price of $3.90, but says 2018 earnings forecasts could be upgraded by 8-10% after Wilmar’s 3Q18 results briefing later thi
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SINGAPORE (Nov 13): UOB Kay Hian is keeping its “buy” call on agribusiness group Wilmar International with an unchanged target price of $3.90, but says 2018 earnings forecasts could be upgraded by 8-10% after Wilmar’s 3Q18 results briefing later this week on Nov 15.

Wilmar on Monday reported an 10.7% increase in 3Q earnings to US$407.4 million ($564 million), driven by better results in Tropical Oils and Oilseeds & Grains and supported by higher share of results of affiliates.

Revenue for the quarter rose 4% to US$11.61 billion, backed by higher sales volumes across all of the group’s businesses.

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