Olam International has booked a jump in full-year earnings, which were boosted by margin expansion and one-time gains.
In the 12 months to 30 June, the company said profit after tax and minority interests rose 67.8% to S$608.5m (US$487.6m). Management attributed growth to exceptional gains from the successful execution of “various initiatives” under a strategic plan that has seen it scale back investment levels and strengthen its balance sheet.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
As part of this drive, Olam recently announced plans to sell a 25% stake in its packaged foods business to Japan’s Sanyo Foods. The company said today (29 August) it expects to complete this transaction within fiscal 2015.
Olam’s operating performance was flat: EBITDA was “maintained” at S$1.17bn. The group offset weaker sales volumes with margin expansion initiatives.
Sales volumes fell 6.7% as the group lapped a 49.5% increase in the prior-year period and exited lower-margin businesses. Value sales were down 6.6% to S$19.42bn.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
