Singapore’s Wilmar reports 51% rise in Q1 profit

Wilmar's profit warning will have an impact on PPB Group

SINGAPORE: Singapore’s Wilmar International Ltd, the world’s largest palm oil processor, posted a 51% rise in its first-quarter profit, helped by its tropical oils as well as oilseeds and grains businesses.

The company also said it was carrying out an internal restructuring of its China operations with the possibility of a separate listing.

The company, whose biggest shareholders include U.S. agricultural trader Archer Daniels Midland Co, reported a net profit of US$361.6mil for the three months ended March, versus a net profit of US$239.4 million a year earlier.

Core net profit, which excludes non-operating items, rose about 40% to US$312.6mil. - Reuters