Wilmar profits up 23% on higher volume and prices
Wilmar International Limited posted a net profit of US$1.88 billion, with 18% increase in profit for the last quarter.
With its business segments Oilseeds & Grains, Consumer Products and Plantations & Palm Oil Mills posting higher sales volume, total revenue was pushed to US$6.9 billion or a 19% increase. Compared also to 4Q2008, commodities prices were higher in 2009.
Mr Kuok Khoon Hong, Chairman and CEO of Wilmar, said, "Wilmar delivered another year of satisfactory performance, supported by the strength of its integrated business model and the resilience in Asia's demand for agricultural food products. Going forward, we will persist with on-going efforts to further improve our operational efficiency through greater integration and economies of scale, and seek attractive investment opportunities to continue growing our Group."
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