Singapore’s Wilmar says Q4 net profit up 18pc

SINGAPORE, Feb 28 – Wilmar International, the World's largest palm oil producer, reported on Sunday a better-than-expected 18 per cent rise in fourth quarter net profit as a global economic recovery drove commodities prices higher.

The company, which has a presence in 20 countries across Southeast Asia, China, India, Europe and Africa, said it would continue to seek attractive investment opportunities to support future growth.

Wilmar posted a net profit of $442 million, up from $373.6 million a year earlier, ahead analysts forecasts of $333.5 million.

The quarterly results took the full year net profit to $1.88 billion, higher than ThomsonReuters I/B/E/S estimates of $1.65 billion. – Reuters