Wilmar Profit Falls 70% on Oilseeds, Grains, Plantations
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Wilmar International Ltd., the world’s biggest palm-oil processor, said its second-quarter profit dropped 70 percent following losses at its oilseeds and grains business and on lower earnings from its plantations.
Net income fell to $117.1 million in the three months ended June 30 from $393.1 million a year earlier, the Singapore-based company said today in a statement. That missed the $316.5 million average of three analyst estimates in a Bloomberg survey. Sales rose 4.3 percent to $11 billion.