Wilmar posts 53% drop in 4Q earnings to S$272m on lower margin, one-off impairment

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SINGAPORE (Feb 21): Wilmar International saw its earnings fall 52.9% to US$200.9 million (S$271.5 million) for the 4Q18 ended December, from US$426.7 million a year ago.

The decline was due mainly to a provision for impairment on the Australian sugar milling assets. Wilmar incurred a non-operating loss of US$129.8 million during the quarter, compared to a non-operating gain of US$65.5 million a year ago.

This brings full-year earnings for FY18 to US$1.13 billion, some 5.7% lower than earnings... (Click here to read the full story)