August 10, 2017 / 9:54 AM / 6 months ago

Singapore's Wilmar posts Q2 profit

SINGAPORE, Aug 10 (Reuters) - Singapore’s Wilmar International Ltd turned in a profit in the second quarter as its oilseeds and grains segment recovered from losses in the year-ago period, although the results were hurt by weaker tropical oils and sugar businesses.

The company, whose biggest shareholders include U.S. agricultural trader Archer Daniels Midland Co, reported a net profit of $60.2 million for the three months ended June, versus a loss of $220 million a year earlier.

The world’s largest palm oil processor had posted its first ever quarterly loss in the April-June period last year, citing untimely purchases of soybeans.

It posted a core net profit, which excludes non-operating items of $37.3 million, versus a loss last year. (Reporting by Aradhana Aravindan; Editing by Vyas Mohan)

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