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Olam H2 profit falls 24.5% on higher net financing costs

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Yong Hui Ting
Uma Devi

Yong Hui Ting &

Uma Devi

Published Mon, Feb 27, 2023 · 08:23 AM
    • Agri-business group Olam has proposed a final dividend of S$0.045 per share, the same as what was declared in the year-ago period.
    • Agri-business group Olam has proposed a final dividend of S$0.045 per share, the same as what was declared in the year-ago period. PHOTO: PIXABAY

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    FOR the second half year ended Dec 31, 2022, agri-business Olam Group ’s net profit fell 24.5 per cent to about S$200 million from S$264.9 million a year earlier.

    The group said in a bourse filing on Monday (Feb 27) that this was due to higher finance costs, which had doubled over the period.

    Revenue for the second half of the year showed a 9.5 per cent improvement from H2 2021, growing to S$26.5 billion from S$24.2 billion.

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