Wilmar's net profit grows 40.5% to $440.5m

Thanks to healthy yields from Tropical Oils and Oilseeds & Grains.

Agri-giant Wilmar reported a robust set of numbers for the past quarter, with both revenue and net profit shooting up 17% and 40.5%, respectively.

According to OCBC Investment Research, revenue increased 17% YoY to US$10.6b, whilst the net profit rose 40.5% to US$312.6m ($440.5m).

"This set of results was attributable to decent performance from Tropical Oils and Oilseeds & Grains segments as well as higher contributions from the group’s China associates," the brokerage firm said.

Here's more from OCBC Investment Research:

Separately, the group is carrying out an internal restructuring of its China operations with the possibility of a separate listing. As the proposed listing is still at the evaluation stage, there is no certainty or assurance that it will happen.

Recall that back in 2009, the group was evaluating the feasibility of listing its China operations but did not proceed with the listing then.