Wilmar net profit reduced 41 percent in Q1 2018

Wilmar International Limited reported a 41 percent decrease in net profit to USD 203.3 million for the quarter ended March 31, 2018 (Q1 2017: USD 342.0 million).

"The lower profit reflected the difficult operating environment for Tropical Oils and seasonal Sugar losses during the quarter. Nonetheless, the Group continued to achieve strong sales growth in Oilseeds & Grains," the message writes.

The increase in Oilseeds & Grains sales volume, as well as higher commodity prices, drove revenue up by 6% to USD 11.17 billion in Q1 2018 (Q1 2017: USD10.57 billion).

Reference: net profit of Wilmar for FY2017 totaled USD 1.22 billion, which is 25.4% more than the result of FY2016 (USD 972.2 million).