Singapore Stocks That Could See Their Share Prices Head Higher: Wilmar International Limited

Wilmar is an agribusiness group with over 500 manufacturing plants and an extensive distribution network spanning multiple countries.

Revenue for 2022 rose 11.6% year on year to US$73.4 billion, underpinned by a good performance from the tropical oils business and better margins from sugar merchandising.

Wilmar’s core net profit jumped 31.3% year on year to US$2.4 billion.

The agribusiness giant also paid out a dividend of S$0.17 for 2022, a record high.

Looking ahead, management expects China to perform better due to its reopening but warned that palm processing margins may come under pressure.

However, Wilmar will work hard to expand its footprint and to also strengthen the integration across its various divisions.