Wilmar posts US$1.88 billion profit
Wilmar International Ltd, Asia's leading agribusiness group where Indonesian businessman Martua Sitorus has substantial shareholding, posted a record net profit of US$1.88 billion last year, a 23% increase from 2008.
Its strong performance was underpinned by robust earnings reported by Oilseeds & Grains, Consumer Products and Plantations & Palm Oil Mills. All business segments posted higher sales volume, resulting in a 19% increase in total
revenue to US$6.9 billion. Additionally, commodities prices were higher compared to 4Q2008.
The Board has recommended for shareholders’ approval a final tax exempt dividend of S$0.05 per share. With the interim dividend of S$0.03 per share paid in Sept 2009, the total dividend paid and proposed for the financial year ended December 31, 2009 is S$0.08 per share, representing a dividend payout of about 20%.
As at December 31, 2009, the Group’s total assets stood at US$23.4 billion while shareholders’ funds amounted to US$10.9 billion. Net gearing ratio was higher but remained conservative at 0.41x.
Wilmar was last quoted at S$6.5 on SGX. At that price, Wilmar has market capitalization of S$41.5 billion, soared 128% from March 2009. Imagine how rich is Martua Sitorus. Just hope that this company and its owners paid tax properly in its Indonesian operations.
As at December 31, 2009, the Group’s total assets stood at US$23.4 billion while shareholders’ funds amounted to US$10.9 billion. Net gearing ratio was higher but remained conservative at 0.41x.
Wilmar was last quoted at S$6.5 on SGX. At that price, Wilmar has market capitalization of S$41.5 billion, soared 128% from March 2009. Imagine how rich is Martua Sitorus. Just hope that this company and its owners paid tax properly in its Indonesian operations.
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posted by yosef at 10:01 PM
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