Wilmar unit YKA expects 15-30% profit growth in 9M 2020

It has submitted for the final registration approval for its Shenzhen IPO.

Wilmar International's subsidiary Yihai Kerry Arawana Holdings (YKA) is expecting its profit attributable to its owners to rise 15-30% YoY to $789.71m-$908.17m (RMB4-4.6b) for the first nine months of 2020, the company announced in a bourse filing.

Revenue was projected to grow 5-10% to $25.86-27.05b (RMB131-137b) over the same period. Recurring profit is also expected to jump 15-30% to $651.51-750.22m (RMB3.3-3.8b).

These forecasts were included in the company’s submission of an updated prospectus to the China Securities Regulatory Commission (CSRC) for its final registration approval for listing on the Shenzhen Stock Exchange (SZSE) ChiNext Board.

On 7 August, YKA received confirmation from SZSE’s ChiNext Board Listing Committee that they have met the listing and disclosure requirements, allowing it to make a submission to the CSRC for the final registration approval for listing in the stock exchange.