Wilmar shares up 3.8% as 2Q earnings surge more than fivefold

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SINGAPORE (Aug 14): Shares in Wilmar International are up 12 cents at S$3.25 at 10.30am with 6 million units traded after the agribusiness group announced 2Q18 earnings surged more than five times to US$316.4 million (S$435.3 million) from a year ago.

Revenue for 2Q18 ended June increased 2% to US$10.80 billion from a year ago due to higher sales volume and commodity prices from the Oilseeds & Grains businesses.

Core net profit of US$352 million was up more nearly 10 times driven by stronger performance from the Oilseeds & Grains and Tropical Oils segments, as well as enhanced contributions from the group’s associates... (Click here to read the full story)