SINGAPORE (Yosefardi) – Wilmar International Limied booked net profit of US$416 million in third quarter of this year, inched up 3% compared to the same period of last year. Revenues meanwhile declined 4% to US$11.84 billion.
For first nine months of this year, the company’s net profit reached US$950 million, grew by 22% from the same period of last year. Revenue declined 4% to US$32.46 billion.
Sales volume of palm, laurics/oilseeds, grains/sugar, increased to 15.2 million metric tons (MT) in third quarter of this year, from previous 13.5 million MT. For nine months, sales volume reached 39.5 million MT compared to earlier 35.1 million MT.
Palm & Laurics contibuted profit before tax of US$211.9 million in third quarter, increased 17%, and contibuted 655.1 million in first nine months, grew by 14%.
This segment contributed revenue of US$4.91 billion in third quarter (15% drop) and US$14.54 billion in first nine months (16% decline). Sales volume meanwhile increased 4% to 6.1 million MT in third quarter and increased 7% to 17.83 million MT in nine months.
Sugar contributed profit before tax of US$151.2 million in first quarter (49% growth), and US$107.3 million in first nine months.
Wilmar’s CPO prodcution declined 8% to 473.83 million MT in third quarter, and inched down 2% to 1.31 million MT in nine months. Palm kernel production fell 11% to 108.29 million MT in third quarter, and down 5% to 300.7 million MT in nine months.
Wilmar’s planted area in Indonesia totaled 239,421 hectares, with weighted age of plantations of 12 years.
Investments made in recent years in capacity expansions, new businesses and downstream products have enabled the Group to realize volume growth and maintain margins amid low CPO prices, Wilmar said.