Dec 9 2014, 10:01 AM
QUOTE(Pink Spider @ Dec 8 2014, 06:07 PM)
Oh I got it already
>50% of PPB's earnings are contributed by Wilmar's earnings
Wilmar's results hit PPB's earnings, but not revenue, because PPB consolidates Wilmar as an associate
Wilmar's recent performance really that bad? Calling ASEAN specialist Unker gark to comment
If u look at PPB's quarterly report, all of its segments reported better revenue and margins; it's Wilmar that is dragging PPB down.
CPO down, soybean down = negative refining and crushing margins ....>50% of PPB's earnings are contributed by Wilmar's earnings
Wilmar's results hit PPB's earnings, but not revenue, because PPB consolidates Wilmar as an associate
Wilmar's recent performance really that bad? Calling ASEAN specialist Unker gark to comment
If u look at PPB's quarterly report, all of its segments reported better revenue and margins; it's Wilmar that is dragging PPB down.
Wilmar have very little plantations, it is mostly a CPO refiner and soybean crusher. When CPO and soybean prices comes down, then they are stuck with high cost inventory, hence losing on margins.
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