- Wilmar’s revenue was marginally up by 0.4% y-o-y to US$17.7b while net profit fell 19.0% y-o-y to US$254.4m in 3Q24.
3Q24 results missed expectations
- Despite stronger-than-expected contributions from tropical oils, oleochemicals, shipping, and crushing, Wilmar’s overall performance was dampened by reduced contributions from its China operations and sugar division, both of which had posted strong results in 3Q23.
- - Read this at SGinvestors.io -
- For 9M24, Wilmar’s revenue and net profit fell 3.0% and 3.6% y-o-y to US$48.7b and US$834.0m respectively.
Management remains cautiously optimistic for 4Q24
- - Read this at SGinvestors.io -
Headwinds could remain in the near-term as China’s recovery would take time
- Read more at SGinvestors.io.
Above is the excerpt from report by OCBC Investment Research.
Clients of OCBC Securities may be the first to access the full report in PDF @ https://www.iocbc.com/.
OCBC Research Team OCBC Investment Research | https://www.iocbc.com/ 2024-11-04
Previous report by OCBC:
2024-08-16 Wilmar International - Cautiously Optimistic On 2H24.
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
