ofi reposted this
H1 2024 revenue increased 9.1% YoY to S$26.9 billion mainly on higher sales volumes. EBIT grew 8.3% to S$888.0 million with strong growth from ofi. PATMI held steady as EBIT growth was offset by the increase in net finance costs and higher taxes. ofi saw a 71.5% YoY growth in EBIT to S$475.5 million on the back of a strong performance in the Ingredients & Solutions segment, which further reinforced the benefits of an integrated business model, a well-diversified portfolio, differentiated supply chain strengths and balance sheet flexibility to its customers. Olam Agri's EBIT decreased 8.4% to S$512.0 million against a strong H1 2023. The Food & Feed - Processing & Value-Added segment delivers continued growth even against its exceptional H1 2023 results. The Board has declared interim dividend of 3.0 cents per share, unchanged from H1 2023. Read the full release here: https://lnkd.in/ggy8ziyf #Olam1H2024Results