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Wilmar posts 40.6% drop in 1Q earnings to $273 mil on higher expenses

Stanislaus Jude Chan
Stanislaus Jude Chan5/10/2018 05:45 PM GMT+08  • 2 min read
Wilmar posts 40.6% drop in 1Q earnings to $273 mil on higher expenses
SINGAPORE (May 10): Wilmar International recorded a 40.6% drop in earnings to US$203.3 million ($273.0 million) for the 1Q ended March, from restated earnings of US$342.0 million a year ago.
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SINGAPORE (May 10): Wilmar International recorded a 40.6% drop in earnings to US$203.3 million ($273.0 million) for the 1Q ended March, from restated earnings of US$342.0 million a year ago.

In a filing to SGX on Thursday, the group says the lower profit was mainly due to the difficult operating environment in Tropical Oils businesses and seasonal sugar losses experienced during the quarter.

1Q18 revenue grew 5.7% to US$11.17 billion, from US$10.57 billion a year ago. This was on the back of stronger sales volume recorded by Oilseeds & Grains businesses, further aided by its higher commodity prices.

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