Singapore Stock Market News

Wilmar International - Positive crushing margins

StockFanatic
Publish date: Wed, 08 May 2013, 02:43 PM
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1Q13 results were broadly in line at 25% of our FY13 forecast and 23% of consensus. Its oilseed & grain division stayed profitable while refining margins for palm & laurics were at their second highest since 2Q09.

The 52% yoy jump in its 1Q13 earnings contrasted sharply with the weaker profits of the other upstream palm-oil producers. We keep our EPS and SOP target price, pending today's briefing. Maintain Outperform with catalysts expected from the good 1Q results and improving processing margins.
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