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3 months ago
Singapore's Wilmar reports 51 percent rise in first quarter profit
May 11, 2017 / 9:52 AM / 3 months ago

Singapore's Wilmar reports 51 percent rise in first quarter profit

SINGAPORE (Reuters) - Singapore's Wilmar International Ltd (WLIL.SI), the world's largest palm oil processor, posted a 51 percent 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 (ADM.N), reported a net profit of $361.6 million for the three months ended March, versus a net profit of $239.4 million a year earlier.

Core net profit, which excludes non-operating items, rose about 40 percent to $312.6 million.

Reporting by Aradhana Aravindan; Editing by Randy Fabi

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