Olam International

Olam 4Q and FY18 earnings fall on absence of exceptional gain, lower PATMI
SINGAPORE (Feb 28): Olam International reported 4Q18 earnings of $75.3 million, down 71.6% from a year ago due to a large exceptional gain of $155.4 million recorded in 4Q17. Operational PATMI, which excludes exceptional items, was lower by 34.4% y-o-y to $72 million on improved performance from Cocoa, Packaged Foods and Wood Products was offset by lower contribution from Peanuts, Coffee, Rice ...
Olam acquires 85% stake in BT Cocoa, Indonesia’s largest cocoa processor, for $121 mil
SINGAPORE (Feb 26): Olam International, the global food and agri-business, is acquiring Indonesia’s largest cocoa processor, BT Cocoa. Olam has acquired an 85% share of YTS Holdings for a consideration of US$90 million ($121.4 million). YTS is the 100% owner of PT Bumitangerang Mesindotama (BT Cocoa). The remaining 15% of shares are to be held by the founding members of BT Cocoa, Piter ...
Right timing: STI looks able to break out
SINGAPORE (Feb 1): Although the Straits Times Index moved sideways over the past five trading sessions, the index still looks able to challenge and break out above resistance and its 200-day moving average now at 3,238. Volume has expanded, and quarterly momentum is on an uptrend. The 50- and 100-day moving averages have made positive cross, which should confirm the ability of the index to ...
Right timing: STI could break out; Wilmar to strengthen; Olam heading higher
SINGAPORE (Jan 25): The Straits Times Index looks set to challenge and perhaps break out above resistance and its 200-day moving average at 3,245. Volume has expanded, and quarterly momentum looks able to move up into a vertical rise. The 50- and 100-day moving averages are poised for a positive cross, which should confirm the ability of the index to break out. The stronger medium term ...
Right timing: STI rally may encounter resistance soon
SINGAPORE (Jan 18): The rally by the Straits Times Index may encounter resistance as it approaches its declining 200-day moving average at 3,251. This may occur at a time when short term stochastics is approaching the top end of its range. The 21-day RSI is also near the top end of its range. Any retreat should meet with support at 3,153. The pause may be temporary as quarterly momentum is ...
Olam reports 14% lower 3Q earnings on coffee, peanuts and commodity financial services
SINGAPORE (Nov 14): Olam reported 3Q18 earnings of $20.7 million, down 14.2% from a year ago against a strong 3Q17, mainly due to lower contribution from coffee, peanuts and Commodity Financial Services (CFS). This brings 9M18 earnings to $272.6 million, down 13.6% y-o-y. Revenue for 3Q18 rose 23.6% to $8.3 billion on the back of a 66.4% increase in volume traded to 9.7 billion MT. As a ...
The 6 biggest SGX-listed agriculture stocks are beating global benchmarks
SINGAPORE (Sept 4): Six of the biggest agriculture-focused stocks listed on the Singapore Exchange (SGX) are beating global agriculture benchmarks so far this year, according to data from Bloomberg and SGX. Wilmar International, Olam International, Golden Agri-Resources, First Resources, Japfa and Bumitama Agri each have a market capitalisation above $1 billion. As of Aug 27, they have a ...
Olam's 2Q earnings down 36.4% to $94 mil on coffee and peanut business
SINGAPORE (Aug 14): Olam International says 2Q18 earnings dropped by 36.4% to $93.9 million, compared to $147.7 million in 2Q17. The weaker bottomline was due to a downcycle in the coffee industry, bad weather conditions in peanut farming in Argentina and lower contribution from edible oils. The results bring 1H18 earnings to $251.9 million, 13.6% lower than $291.5 million in ...
Olam reports 9.8% rise in 1Q18 earnings to $158 mil on lower finance costs and tax expenses
SINGAPORE (May 14): Agri-business group Olam International, which grows, trades and processes food and industrial raw materials, reported a 9.8% rise in 1Q18 earnings to $158 million from $143.8 million a year ago on reduced net finance costs and lower taxation.   Sales of goods and services rose 8.5% to $6.3 billion from $5.8 billion a year ago while other income more than doubled to $30 ...
Olam pays $3.1 mil for 29% stake in coffee & nuts JV in Spain
SINGAPORE (Apr 19): Olam International says it has paid 1.88 million euros ($3.05 million) for a 29% stake in a joint venture (JV) company with Guzman Global, the distributor of industrial raw materials as well as coffee & nuts. Guzman Global holds the remaining 71% stake. Based in Spain, the JV company is named Guzman Coffee & Nuts (GC&N), and is now an associated company of ...