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Revisions

Wilmar expects net loss of US$230 mil for 2Q

Zavier Ong Published on Tue, Jul 19, 2016 / 6:38 PM GMT+8

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SINGAPORE (July 19): Wilmar International has issued a profit warning for its second quarter results ended June 30, based on a preliminary review of its unaudited financial results.

According to the profit guidance dated Tuesday, the group expects to report net losses of about US$230 million ($311 million) for 2Q16.

This was the result of challenging operating conditions, led by the manufacturing sub-segment within Oilseeds and Grains, as well as the Sugar segment.