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
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