Olam registers 26.7% higher earnings of $421.5 mil for 1H21, announces plans to list OFI on LSE and SGX

Olam International has posted 1HFY2021 ended June earnings of $421.5 million, up 26.7% y-o-y from $332.7 million on strong operating profit growth and lower net finance costs.

Revenue for the 1HFY2021 increased 33.7% y-o-y to $22.8 billion, in tandem with group sales volume increasing 11.5% y-o-y to 22.4 million metric tonnes, driven by strong growth for both Olam Food Ingredients (OFI) and Olam Global Agri (OGA).

EBIT for the period grew 51.4% y-o-y to $641.6 million, with OFI’s EBIT up 22.9% y-o-y while OGA’s EBIT was up 58.9% y-o-y.