WLMIY Wilmar International Ltd (PK)

   By Lucy Craymer 
 

HONG KONG--Wilmar International Ltd. (F34.SG) reported Wednesday that its net profit fell 34.7% on-year in the third quarter, mainly from mark-to-market losses in investment securities.

Net profit for the three months to Sep. 30 was US$275.9 million, compared with US$422.4 million in the same period last year, Wilmar said in a statement to Singapore Exchange, where it's listed.

Core net profit, which strips out non-operating income, dropped 16.5% to US$359.0 million, the world's largest palm oil trader by market share said.

Revenue declined 7.6% to US$10.6 billion, mainly due to lower commodity prices, Wilmar said.

Pretax profit from Wilmar's main oil plantation and manufacturing business declined 46% on-year in the third quarter to US$101.5 million, as lower palm oil prices weighed on profit. However, an improvement on production yield on its plantations partly offset the fall in prices, the company said.

Write to Lucy Craymer at lucy.craymer@wsj.com, @lucy_craymer

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(END) Dow Jones Newswires

November 11, 2015 05:30 ET (10:30 GMT)

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