SINGAPORE: A stronger performance from its oilseeds and grains segment as well as higher contributions from its associates boosted first-quarter earnings for commodities firm Wilmar International.
Net profit for the three months ended March 31 jumped 49.1 per cent to US$241.2 million (S$333 million), over the US$161.8 million from the same period a year ago.
Revenue declined 8 per cent to US$9.41 billion. This was due to lower commodity prices, said Wilmar in a statement on Thursday.
The group’s oilseeds and grains segment saw pre-tax profit swell 1,120.5 per cent to US$166.1 million, well over the US$13.6 million previously.
