Wilmar profit lags forecasts; eyes sugar expansion

Written by Thomson Reuters


Friday, 13 August 2010 11:53

Wilmar , the world’s biggest listed palm oil firm, posted its first quarterly earnings decline in four years, joining other global commodity firms whose margins have been squeezed by tight edible oil supply.

Wilmar’s disappointing 15% decline in second-quarter profit on Friday came after U.S. group Bunge cut its full-year earnings guidance by as much as 40% and Hong Kong-based Noble’s quarterly profit tumbled 65%.