SINGAPORE (Yosefardi) – Wilmar International Limited, Asia’s leading agribusiness group, achieved a 49% increase in net profit to US$241.2 million for the quarter ended March  31, 2015.

The Group’s core net profit (i.e. excluding non-operating items) grew 23% to US$263.3 million in first quarter of 2015.

The higher net profit in the period reflected a strong performance from Oilseeds & Grains (Manufacturing & Consumer Products) as well as higher contributions from associates.

However, Tropical Oils (Plantation & Manufacturing) and Sugar (Merchandising, Manufacturing & Consumer Products) saw weaker performances 2015, amidst tougher operating conditions in their respective markets.

Revenue declined 8% US$9.41 billion due to lower commodity prices.

Wilmar believes to be able to overcome the current difficult environment, especially if  the Indonesian government implements its proposed support policy for biodiesel.