Wilmar International's 2023 Earnings May Weaken -- Market Talk

Dow Jones2023-02-23

0510 GMT - Wilmar International's 2023 earnings may be weaker than last year's due lower food-product and plantation margins as edible-oil prices soften, RHB Research's Singapore research team says in a report. Management also noted that, as edible oil prices have declined, average selling prices of its bulk and medium pack segment will have to be reduced in tandem, leading to lower margins, the team says. RHB cuts its 2023 to 2024 earnings forecasts for the Singapore-listed agribusiness conglomerate by 12%-13%, partly to reflect its reduced food-product margin assumptions. It lowers the stock's target price to S$4.65 from S$5.40 with an unchanged buy rating. Shares are 0.5% higher at S$4.00. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

February 23, 2023 00:10 ET (05:10 GMT)

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6eff4608
2023-02-24
6eff4608
Hahaha so good result and still brokerage house downgrade the counter to buy at low 😂

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