Wilmar Shares Plunge as Profit Misses Estimates: Singapore Mover
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Wilmar International Ltd., the world’s biggest palm-oil processing company, fell the most in Singapore trading in more than three years after reporting quarterly profit that missed analysts’ estimates.
The shares slumped 11 percent to S$5.22, their largest decline since Oct. 6, 2008, compared with a 1 percent drop in the benchmark Straits Times Index. Wilmar reported net income of $500 million in the three months ended Dec. 31, compared with the $519.8 million average estimate of six analysts in a survey compiled by Bloomberg.