Wilmar posts first ever quarterly net loss

SINGAPORE (Aug 11): Wilmar International reported its first ever quarterly net loss of US$220.1 million ($296 million) in 2Q16, compared with earnings of $193.2 million in 2Q15.

For the three months to June, revenue rose 0.9% to US$9.37 billion on higher sales volumes that was offset by lower commodity prices. Gross margins fell 2.4 percentage points to 5.1%.

For half-year period, earnings fell 95.5% to US$19.3 million while revenue fell 1.7% to US$18.4 billion.

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