SINGAPORE: Food propels Olam H1 sales
- Sales up 24.3%
- Food volumes up 83.2%
- Comparable post-tax profit up 10.1%
Olam sales, profits rise
Olam International has booked a jump in first-half sales, which were up by almost one quarter on strong growth from the Singapore group's food business.
The company said sales in the six-month period rose 24.3% to S$9.6bn (US$7.72bn), on an increase in sales volumes of 71.9%.
Gains were driven by an 83.2% in volume growth at the group's food unit, with "net contribution" from the business up 24.2%.
Group profit after tax and minority interests rose 21.3% to S$197.3m. Excluding exceptional items, such as the sale and lease back of almond orchards in California, profit growth stood at 10.1%, while earnings per share rose 17.8%.
OLAM INTERNATIONAL REPORTS 21.3% GROWTH IN PROFIT AFTER TAX AND MINORITY INTEREST TO S$197.3 M FOR H1 FY2013
H1 FY2013 : Financial Highlights
H1 FY2013: Other Highlights
Original source: Olam International
- On the move: What's in store from Tesco's new CEO?
- The just-food interview: Premier Foods CEO Darby
- On the money: Can Premier build H2 sales momentum?
- Focus: Lindt plays safe with Russell Stover buy
- Interview: Bell hits out at German cartel ruling
- UPDATE: Premier establishes international unit
- Campbell issues warning on 2014/15 fiscal year
- S&A Foods announces restructure, 55 jobs to go
- Premier launches Oxo pots range in UK
- Universal Robina to buy biscuit firm Griffin's