• Condensed by Lynda Kiernan

Oilseeds, Grains Lead Wilmar Back to Profit

Wilmar International Ltd. posted net profit for the third quarter ending September 30 of $392.2 million - up from net profit of $267.6 million for the same quarter a year earlier.

Likewise, the group posted revenue of $11 billion – indicating a 4.1 percent increase over third quarter profits of $10.6 billion last year.

Oilseeds, grains and tropical oils were earmarked by the company as being drivers of these results. In the third quarter Wilmar’s Oilseed and Grains unit posted pre-tax profit of $248 million – an increase of 18.5 percent over pre-tax profit of $243.6 million for the same quarter the year prior.

Since the month of May, Wilmar has formed two joint ventures within the grains and oilseed space – the first being an agreement with Ruchi Soya Industries Ltd. under which the two companies combined their procurement, marketing, distribution, and sales businesses in India. Then in July Wilmar acquired a 45 percent stake in Bunge’s crushing business in Vietnam, forming a three-party joint venture between Bunge, Wilmar, and Vietnamese soybean meal distributor, Quang Dung.

More on this story

Contribute an article

Lynda Kiernan is Editor with HighQuest Group Media and of the Oilseed & Grain News. If you would like to submit a contribution for consideration, please contact Ms. Kiernan at lkiernan@highquestgroup.com.

©2017 HighQuest Group. All rights reserved.

  • LinkedIn Clean
  • Twitter Clean
  • YouTube Clean
  • Google+ Clean