Wilmar's 4Q Earnings Could be Hurt by Higher Commodity Prices
Dow Jones
2 hours ago
Wilmar International's 4Q earnings could remain weak due to higher commodity prices, RHB Singapore Research analysts say in a note. The agribusiness group's 3Q core profit plunged by 25% on year. Earnings were weighed by the food products as well as feed and industrial products segments amid higher raw-material costs and weaker crushing margins.
Looking ahead, the analysts expect the higher commodity prices to affect Wilmar's food product and crushing operations.
RHB lowers its target price for the stock to 3.35 Singapore dollars from S$3.85, while maintaining a neutral rating.
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