Hot stock: Olam hits 10-month low after posting 89% drop in H1 profit

SHARES of mainboard-listed Olam Group reached a 10-month low on Monday (Aug 14) after the group posted an 89 per cent decline in first-half net profit to S$48 million.

The counter fell as much as 7.6 per cent or S$0.10 to a low of S$1.21 as at 9.44 am. The last time Olam’s shares closed near this level was on Oct 14, 2022.

By 2.21 pm, the agri-food giant’s shares were trading 6.1 per cent or S$0.08 lower at S$1.23, with around nine million shares changing hands.