Wilmar Q1 Core Net Profit Falls 23 Percent to $264 Million
Wilmar reported a 23 percent drop in Q1 core net profit to $264.2 million due to hedging losses. The firm expects these losses to reverse in coming quarters.
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WILMAR INTERNATIONAL LTD reported a 23% drop in first-quarter core net profit to $264.2 million on Wednesday. Profit fell from $343 million a year earlier, driven by hedging losses and weaker contributions from global associates. The company expects these losses to reverse in the coming quarters when physical transactions are settled.
