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 …