(Reuters) -Singapore-listed Wilmar International reported a 35.7% fall in third-quarter core net profit on Wednesday, weighed down by weaker China and sugar division operations.
The company, one of the world’s largest food producers, said core net profit was $208.1 million for the three months ended Sept. 30, compared with $323.6 million a year ago.
Wilmar faced a labour dispute at its Australian sugar maker unit, Wilmar Sugar and Renewables, which was resolved in September.
The dispute disrupted sugar production, delaying the start of the cane-crushing season and leading to several shutdowns.
Wilmar earlier this month cut projections for sugar production in Brazil.
The company also said that weaker contribution from its China operations, which made up for about half of its revenue in fiscal 2023, dragged its profit.
Sales volume in its Feed and Industrial Products segment — the biggest profit generator — was 18.2 million tonnes, up 9.8%.
Revenue for the quarter remained largely flat at $17.75 billion.
(Reporting by Aaditya Govind Rao and Shivangi Lahiri in Bengaluru; Editing by Pooja Desai amd Sriraj Kalluvila)
