Olam Group reports strong results for the first half of 2020

Olam Group was also reporting against its newly formed operating groups for the first time, namely Olam Food Ingredients (OFI), Olam Global Agri (OGA) and Olam International Limited (OIL). Revenues increased 7.1% year on year up to S$ 17.1 bn (approx. € 10.5 bn). OGA contributed 58.9% of total Group revenues, OFI 36.1%, and OIL 5.0% respectively.

According to the company, Profit After Tax and Minority Interests (PATMI) grew 44.4% year on year up to S$ 332.7 m (appox. € 205 m) due to a net exceptional gain of S$ 130.6 m (approx. € 80 m) from the divestments of the remaining 50.0% stake in Far East Agri and the partial stake sale of Arise P&L, offset partially by one-off exit and closure costs of other de-prioritised assets that were divested or shut down.