Singapore's Wilmar misses annual profit view on weak feed, plantation segments (updated)

Wilmar International

20/02/2025 09:52

(Recasts paragraph 1, adds company's comment in paragraph 2)
       Feb 20 (Reuters) - 
    Singaporean food conglomerate Wilmar International  WLIL.SI 
reported a bigger-than-expected fall in full-year core net
profit on Thursday, hurt by weak performance from its plantation
and sugar milling as well as feed and industrial products
segments.
    While the contribution from the firm's oilseeds business
improved towards the end of the second half, continued
challenging operating conditions for its tropical oils business
and lower production and yield of fresh fruit bunches in the
same period weighed on Wilmar's profits, the company said.
        The company, one of the world's largest food producers,
reported a 23.3% decline in core net profit at $1.16 billion for
the twelve months ended December 31. Analysts had expected $1.40
billion profit, according to data compiled by LSEG.
        The company also proposed a final dividend of S$0.10 per
share, slightly lower than S$0.11 per share declared last year.
  

 (Reporting by Shivangi Lahiri and Sherin Sunny in Bengaluru;
Editing by Eileen Soreng)
 ((Shivangi.Lahiri@thomsonreuters.com;))