Kuok Khoon Hong, chairman and CEO, says that the 1HFY2023 numbers were impacted by lower palm oil and fertiliser prices, as well as lower processing margins for our mid and downstream operations.
Wilmar International has reported earnings of US$550.9 million for 1HFY2023, down 52.7% y-o-y. Revenue in the same period ended June was down 10% y-o-y to US$32.5 billion. While sales volume increased, prices of commodities dropped, the company says.
Despite the lower earnings, Wilmar plans to maintain an interim dividend of 6 cents per share.
