07/08/2013 (4-Traders) - Wilmar International Ltd. (F34.SG, WLMIY) Tuesday reported an 86.5% on-year rise in its second-quarter net profit on gains by most business segments and a lower base of comparison, as results were depressed last year by foreign exchange losses and loss on investments.

Net profit was US$218.5 million in the quarter ended June 30 compared with US$117.1 million in the same period a year earlier, Wilmar said in a statement to the Singapore Exchange.

Excluding non-operating items, the company's net profit rose 42% to US$245.4 million in the quarter, it said.

Sales revenue fell 5.4% to US$10.43 billion, the company said.

Most business segments reported improved performance during the period. However, plantations and palm oil mills continued to be affected by lower crude palm oil prices and production yield, it said.

"The current low CPO prices and declining refining margins in Indonesia add to an already challenging operating environment," group Chairman and Chief Executive Kuok Khoon Hong said.

However, the company will benefit from lower raw material prices and investments made in the previous years in new business areas such as sugar and oleochemicals production, he added.

Write to Gaurav Raghuvanshi at gaurav.raghuvanshi@dowjones.com

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