Singapore's Wilmar posts higher first-quarter profit, flags tariff uncertainty
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Wilmar's oleochemicals plant located in the Port of Rotterdam produces ingredients that are used in products such as shampoo.
PHOTO: ST FILE
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Bengaluru - Singapore-listed agribusiness giant Wilmar International reported a 4 per cent rise in first-quarter profit on April 29, and flagged increased market volatility from US tariffs for the rest of 2025.
Wilmar said its core net profit for the three months ended March 31 was US$343 million (S$449 million), up from US$328.4 million in the year-ago period.
The company, one of the world’s largest food producers, posted a higher core net profit on better performance from both its food products and plantation and sugar milling segments.
“The outlook for the rest of the year is expected to remain uncertain with increased volatility arising from the introduction of tariffs by the United States,” Wilmar said in a statement.
Singapore faces a 10 per cent levy from the US despite a bilateral free trade agreement, compared to much steeper tariffs imposed on its neighbours, and has warned of uncertainty in its trade-reliant economy and the possibility of recession and job losses.
Wilmar’s first-quarter profit was also boosted by higher earnings from its investments in China, India and South-east Asia, it said.
While operating conditions in the tropical oil business remained challenging, crushing margins improved during the quarter, Wilmar added.
Weaker contributions from the feed and industrial products segment offset some of the higher profit, the company added.
The company’s shares rose 0.7 per cent to $3.04 as at 10.35am on April 30, after its earnings announcement. REUTERS
