UPDATE 2-Singapore's Olam Group logs marginal rise in profit despite higher costs
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 14 2024
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Source: Yahoo Finance
Olam Group's Financial Performance: Olam Group reported a slight increase in first-half profit to S$48.03 million, despite higher financing costs due to increased working capital needs from record-high commodity prices, particularly cocoa and coffee.
IPO Plans and Market Outlook: The company is facing delays in its planned IPOs for its food ingredients and agricultural products units, while anticipating that inflationary pressures will ease in the second half of the year as commodity prices stabilize.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
