Published:
Olam’s net profit triples to $94.7m in 2Q
On back of improved margins.
The agri-business company continued its strategy of restructuring by deprioritizing lower margin businesses, but still saw a robust growth for its net profit in 2Q.
Easing priority from lower margin businesses, however, caused a drop in Olam's revenue by 16% to S$4811.6m.
"1H15 revenue was down 14% at S$7516.3m, meeting 44% of our full-year forecast, while reported NPAT tumbled 70.6% to S$126.0m; operational NPAT was actually up 48% at S$223.7m, or about 51% of our FY15 forecast," a report from OCBC said.
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