Delayed sugar harvesting to sweeten Wilmar's earnings

It could report a strong net profit of US$460m, UOB believes.

Ahead its announcement, agri-giant Wilman International is expected to report a stronger profit for 4Q16 as profit from sugar division will be recognised. UOB KayHian said Wilmar is expected to reflect a net core profit of US$430m to US$460m.

"In 2016, 4Q16 was likely to have been the strongest quarter in terms of core net profit for Wilmar vs the seasonal peak of 3Q as sugar harvesting was delayed to early-Jan 17 so 4Q16 would have registered a higher crushing volume vs 3Q16," UOB KayHian said.

More so, UOB said palm oil production volume picked up strongly in 4Q16 as 9M16 suffered a severe drought impact from 2015’s EL Nino.

UOB added, " 4Q16 net profit is expected to have factored in deferred tax income arising from the increase in tax depreciable value of its plantation assets. Results are scheduled to be released on 20 Feb 17 after market close."

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