Wilmar International has reported earnings of US$750.9 million for 1HFY2021, up 23% y-o-y. Revenue in the same period was up 30.4% y-o-y to US$29.5 billion, thanks to higher selling prices, higher sales volumes and additional contributions from its joint ventures and associates.
The company plans to pay an interim dividend of 5 cents per share, up from 4 cents paid this time last year.
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Kuok Khoon Hong, chairman and CEO describes the 1HFY2021 numbers as “satisfactory” with the on-going pandemic in the backdrop.
He expects Wilmar’s feed and industrial products segment to continue to do well on “positive” margins and sustained demand growth.
He also expects the company’s plantation and sugar milling segment to benefit from higher palm oil and sugar prices.
“The strength of our diversified operations is that it enables the group to continue to perform well as weakness in one business is often offset by good performance in other segments,” he says.
“Barring unforeseen circumstances, the group’s performance for the rest of the year is expected to be satisfactory.”
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Wilmar shares closed Aug 11 at $4.49, down 0.22% for the day, and down 6.46% year to date.
