The world's largest palm oil processor had posted its first ever quarterly loss in the April-June period last year, citing untimely purchases of soybeans.
SINGAPORE (Aug 10): Agribusiness Wilmar International has swung back into the black with earnings of US$60.2 million ($82.1 million) for the 2Q17 ended June, compared to the US$220.1 million loss it posted in the same period a year ago.
The bottomline improvement was driven by recovery in Oilseeds & Grains from the one-off losses in 2Q16, but was partially offset by weaker performances in Tropical Oils and Sugar. There was also higher non-operating gains arising from the group’s investment securities.
