- Wilmar International (SGX:F34) is scheduled to release its 1Q24 financial highlights on 29 April (see earnings calendar). We anticipate 1Q24 core net profit to fall between US$390m to US$420m (1Q23: US$382m, 4Q23: US$665m).
- - Read this at SGinvestors.io -
Flattish to marginal growth y-o-y in 1Q24; the good offset by the weak segments.
- The food products and plantation & sugar mill divisions are likely to perform better y-o-y, but these gains are likely to be offset by persistent weaknesses in palm downstream processing and narrower soybean crushing margins compared to 1Q23.
- - Read this at SGinvestors.io -
Food products:
- Expect a y-o-y improvement, driven by higher sales volumes in consumer packs and potentially enhanced margins due to lower feedstock costs. Stable margins are expected in medium & bulk sales, supported by increased sales volumes amidst an uptick in HoReCa spending.
Feed & industrial products:
- Expect weaker performance in 1Q24. Both palm downstream processing and soybean crushing segments are expected to underperform.
- Read more at SGinvestors.io.
Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @ https://www.utrade.com.sg/.
Leow Huey Chuen UOB Kay Hian Research | Jacquelyn Yow Hui Li UOB Kay Hian | https://research.uobkayhian.com/ 2024-04-22
Previous report by UOB:
2024-02-23 Wilmar International - Managing Expectations.Price targets by 3 other brokers at Wilmar Target Prices.
Listing of research reports at Wilmar Analyst Reports.
Relevant links:
Wilmar Share Price History,
Wilmar Announcements,
Wilmar Dividends & Corporate Actions,
Wilmar News Articles
