* Q4 net profit $560.8 mln vs $330.2 mln year-ago
* Q4 revenue up 26.7 pct
* Annual net profit falls 5 pct smallest in nine years
(Adds details, milestone for annual profit)
SINGAPORE, Feb 20 Singapore's Wilmar
International Ltd, the world's largest palm oil
processor, said its fourth-quarter net profit rose 70 percent,
thanks to stronger results across its businesses, particularly
its tropical oils and sugar segments.
Wilmar, one of the biggest soybean buyers, reported a net
profit of $560.8 million for the three months ended December,
compared with a net profit of $330.2 million a year earlier.
Fourth-quarter core net profit, which excludes non-operating
items, rose 70 percent to $589.5 million. Revenue at Wilmar,
which counts U.S. agricultural products trader Archer Daniels
Midland Co among its shareholders, was up 26.7 percent.
However, Wilmar's 2016 annual net profit fell 5 percent to
$972.2 million, its smallest in nine years, due to untimely
purchases of soybeans which led to a loss in the second quarter.
In the fourth quarter, pretax profit at the company's
tropical oils segment rose 94 percent to $184.3 million, led by
its plantation business which benefited from higher crude palm
oil prices. Its oilseeds and grains segment recorded a profit
before tax of $177.9 million, an 8 percent increase.
Pretax profit at the sugar business rose 68 percent to
"Barring unforeseen circumstances, performance in 2017 is
expected to be satisfactory," Chairman and CEO Kuok Khoon Hong
said in a statement.
(Reporting by Aradhana Aravindan Gaurav Dogra in BENGALURU;
Editing by Amrutha Gayathri and Christian Schmollinger)