Shares & Derivatives
Wilmar’s FY2015 Earnings Fall 8.6% on Foreign Exchange Losses
By The Fifth Person  •  February 19, 2016
Wilmar International reported an 8.7% decline in earnings to U SSI .1 billion ($1.55 billion) for FY2015. Core net earnings, which exclude non-operating items, fell 4.4% to Sl.2 billion for the financial year to December, primarily due to foreign exchange losses. Group revenue declined 10% to $38.8 billion, due to lower commodity prices. However, this was offset by the strong growth in sales volume and higher margins. The tropical oils segment recorded a 4% decrease in sales volumes to 23.5 million MT, which resulted from lower crude palm oil prices, weak demand and lower margins, despite the 4% improvement in production yield to 21.4MT per hectare. Fresh fruit bunch production rose 4% to 4.5 million MT. The oilseeds & grains segment reported a 19% growth in sales volumes to a record 23.6 million MT, driven by the record volume of soybean crushed and stable crushing margins. In particular, the ......
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By The Fifth Person
The Fifth Person believes in spreading a message that financial literacy and sound investment knowledge can help people around the world achieve financial independence and lead better lives for themselves and their loved ones.
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