Wilmar reports 52.3% fall in 2Q19 earnings to US$151 mil on lower crush margin

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SINGAPORE (Aug 13): Wilmar International reported a 52.3% decrease in net profit from continuing operations to nearly US$150.9 million (S$209.5 million) for 2Q19 ended June, from US$316.4 million in 2Q18 a year ago.

The agribusiness group said this was mainly due to lower crush margin for the quarter, as the impact of the African swine fever outbreak on soybean meal demand was greater than previously expected. However, this was partially offset by strong performances from Consumer Products and Oleochemicals.

Earnings per share on a fully diluted fell 52% to 2.4 US cents in 2Q19, from...(click on link for full story on theedgesingapore.com)