Wilmar Share Price
February 22, 2012 by staff
Wilmar Share Price, Wilmar International Ltd., the world’s biggest palm-oil processing company, fell the most in Singapore trading in more than three years after reporting quarterly profit that missedanlysts’ estimates.
The shares slumped 11 percent to S$5.22, their largest decline since Oct. 6, 2008, compared with a 1 percent drop in the benchmark Straits Times Index. Wilmar reported net income of $500 million in the three months ended Dec. 31, compared with the $519.8 million average estimate of sixanlysts in a survey compiled by Bloomberg.
Wilmar’s palm and laurics business posted a 32 percent drop in pre-tax profit as demand from China, India and Europe weakened and margins contracted because of “unfavorable market conditions” in Asia’s two fastest-growing major economies, the company said in its earnings statement today. Returns from crushing oilseeds and grains in China remained “challenging.”
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