Wilmar Reports Solid Q3 Results; FVE Intact
No-moat Wilmar’s solid third-quarter results were in line with our expectations, with net profit rising 47.0% year over year. The earnings were primarily boosted by the tropical oils segment and the oilseeds and grains segment on the back of improving crude palm oil prices and robust downstream performance, though partly mitigated by a weaker sugar business due to lower sales volume as a result of unfavorable weather in Australia. We think the company will continue to report decent results in th...Wilmar International is an investment holding company. Co.'s segments include: merchandising and processing, which include palm and laurics, engaged in merchandising and processing of palm oil and laurics related products and oilseeds and grains, engaged in merchandising and processing of a range of edible oils, oilseeds and grains; consumer products engaged in packaging and sales of consumer pack edible oils, rice, flour and grains; plantation and palm oil mills, engaged in oil palm cultivation and milling; sugar, which includes milling engaged in milling of sugarcane; and others engaged in manufacturing and distribution of fertilizer products and ship-chartering services.
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