Olam Group's first-half profit soars on higher food ingredients prices
Olam, one of the world's biggest agricultural commodity traders, has been ramping up efforts to unlock value through a stake sale in Olam Agri to Saudi Arabia's agricultural and livestock investment firm, SALIC. It is also looking to demerge and list its food ingredients business, Ofi.
"Pursuant to the proposed sale of Olam Agri to SALIC and the plan to responsibly divest the assets and businesses of the remaining Olam Group, our focus is to prioritise Ofi and support its efforts in realising its full potential value," said CEO Sunny Verghese.
Ofi, a diversified food and beverage platform, reported revenue of S$14.7 billion ($11.49 billion) in the six months to June 30, around 52% higher than last year, with operating earnings jumping 13% to S$535.8 million.
That boosted the group's reported profit attributable to S$323.8 million for the first half of 2025, compared with S$48 million a year earlier. It declared an interim dividend of 2 Singapore cents per share.
($1 = 1.2795 Singapore dollars)
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