, Singapore
Logo from Wilmar International

Wilmar net profit expected to rise 6%-13% in Q1

Yihai Kerry Arawana's turnaround and the company's sugar milling segment contributed to the earning growth.

UOB Kay Hian expected Wilmar International's net profit for the first quarter of 2023 to grow 6%-13% to $467m-507m (US$350m-380m) from $438m (US$328m) in the same quarter of 2022.

Its Regional Morning Notes said that Wilmar International's expected growth in earnings came mainly from Yihai Kerry Arawana Holdings' (YKA) turnaround within the quarter.

"For 1Q23, we believe the contribution from YKA will surely be higher year-over-year on better food product segment contribution, mainly driven by consumption spending to drive the sales volume for consumer packs and sales for medium and bulk segments, thanks to festival demand," UOB Kay Hian said.

READ MORE: Wilmar CEO acquires additional 217,000 shares in the company

UOB Kay Hian also expected some profit contribution from Wilmar International's sugar milling segment with the delayed harvesting season to 23 January.

"In 2H22, high rainfall in Queensland delayed the harvesting, causing some milling profit to carry over into 1Q23. The profit compensated for the weaker contributions from palm oil, whilst sugar merchandising continues to benefit from a larger white sugar premium," UOB Kay Hian said.

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!