Published:
Olam’s revenue down 30.5% in its seasonally weakest quarter yet
At 10% of its full-year core net profit.
A report by Maybank reveals that Olam has likely experienced its trough in the period from July-September, revealing net profit of $60m, an increase from last quarter’s dismal $31.8m, but a decrease from triple digits in the quarters before that.
Meanwhile, revenue has been down on a quarterly basis and registered the lowest digits since last year.
Maybank KE adds that the coming quarter could be no different, and that Olam needs to address its poor cash flows and weak balance sheet.
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