Financial Press Release
14th Aug, 2024
Olam Group delivers 8.3% growth in EBIT, steady PATMI for H1 2024
Singapore
Olam Group:
Operating profit (“EBIT”) grew 8.3% with steady PATMI at S$48.1 million, bolstered by strong profit growth from ofi
Bought back 25.1 million shares equivalent to S$28.5 million; mandate renewed in April 2024 to continue buyback programme of up to a maximum of 5.0% of outstanding shares
Board declares interim dividend of 3.0 cents per share
ofi:
EBIT grew 71.5% year-on-year (YoY) to S$475.5 million, driven by 112.9% growth in Ingredients & Solutions
Olam Agri:
EBIT declined 8.4% against a strong prior half year; Food & Feed - Processing & Value-Added segment delivers continued growth even against its exceptional H1 2023 results
Re-organisation update:
The Group remains committed to list ofi and Olam Agri, while concurrently exploring other strategic options to unlock value
It will consider both internal and external factors, such as business performance of all three operating groups, prevailing
News
9th Nov, 2023
Olam Agri and Nutrifoods Support Akosombo Flood Victims
Olam Agri, the country’s leading supply chain manager in agri-commodity, and its sister company, Nutrifoods, a top food manufacturer in Ghana, on Friday, presented a consignment of relief items to flood victims of the Akosombo Dam spillage.
In mid-October, the Volta River Authority (VRA) began spilling water from the Akosombo reservoir to protect the dam from overtopping.
The influx of large volumes of water has raised levels, causing excessive flooding in several low-lying areas along the Volta River, including, but not limited to, Mepe, Battor, Sogakope, Mafi, Adidome, and Ada.
Blog
20th Mar, 2023
Building a Business that Conserves Forests, One Step At a Time
“I have worked in the Congo basin for years, but nothing could have prepared me for the moment when I was just steps away from Buka, who belongs to one of the four groups of habituated silverback gorillas living in the vicinity of our forest concessions in the Congo Basin,” says Vincent Istace, Head of Corporate Responsibility & Sustainability at Congolaise Industrielle des Bois (CIB), an Olam Agri subsidiary.
Personal pictures of Paki Paki taken by Vincent Istace in 2021. © Vincent Istace
“This landscape is ideal for wildlife viewing compared to other natural forests in the area. The forest is more open, making it easier to see and spot gorillas and other wildlife. This feature has made sites such as Mondika one of the world’s most interesting spots for the study of great apes.
It may surprise some to hear that critical gorilla and chimpanzee habitats around the buffer zones of Nouabale-Ndoki National Park, are also where sustainable timber harvesting is practiced.”
Forest
