Olam posts H2 profit of S$264.9m on reorganisation-led turnaround

AGRI-FOOD giant Olam International O32 : O32 0%posted a net profit of S$264.9 million for its second half ended Dec 31, 2021, from a loss of S$87 million a year ago.

This was mainly due to higher operating profit, as well as lower exceptional losses recorded for the period, the company said in a bourse filing on Monday (Feb 28).

Revenue for H2 rose 29 per cent to S$24.2 billion, from S$18.7 billion a year ago.