{
  "id": 821971,
  "title": "Singapore-listed Olam Group logs nearly sixfold jump in first-half profit to $1.91 billion",
  "url": "https://urgent.news/2026/08/14/singapore-listed-olam-group-logs-nearly-sixfold-jump-in-first-half",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-14T00:21:34.000Z",
  "source": {
    "name": "Straits Times Business",
    "slug": "straits-times-business",
    "url": "https://www.straitstimes.com/business/companies-markets/singapores-olam-group-logs-nearly-sixfold-jump-in-first-half-profit"
  },
  "original_language": "en",
  "account": "Singapore's Olam Group announced a substantial surge in first-half profit, reporting a nearly sixfold increase to $1.91 billion on August 14. The significant boost was attributed to gains from asset sales and a revaluation tied to the company's ongoing restructuring program. Olam sold a 44.58% stake in its Olam Agri subsidiary and liquidated its technology services business, Mindsprint, yielding a one-off gain of $1.75 billion. This resulted in a profit attributable to the group of $1.91 billion for the six months ending June 30, a sharp contrast to the $323.8 million profit a year earlier. Despite the impressive overall profit, Olam's operational profit from continuing operations declined by more than half, settling at S$64.4 million. The company declared a total dividend of seven cents per share, an increase from two cents previously paid. Out of this, one cent was paid as an interim dividend and six cents constituted the special dividend. Olam's flagship food ingredients unit, ofi, anticipates market volatility persisting due to geopolitical shifts, evolving trade policies, and weather-related supply risks. The unit aims for low- to mid-single-digit volume growth and high-single-digit adjusted earnings growth over the medium term.",
  "summary": "Olam Group, a Singapore-listed major food and agri-business firm, reported a nearly sixfold increase in first-half profit for the six months ended June 30, 2023, to $1.91 billion. This substantial jump was driven by gains from asset sales, including the disposal of a 44.58% stake in Olam Agri and the sale of its technology services business Mindsprint, which resulted in a one-off gain of $1.75 billion. Despite this strong financial performance, the group's operational profit attributable from continuing operations more than halved to S$64.4 million. Olam's dividend was declared at seven cents per share, up from two cents a year earlier, comprising an interim dividend of one cent per share and a special dividend of six cents per share. The company's flagship unit, ofi, anticipates market volatility due to geopolitical developments, evolving trade policies, and weather-related supply risks, but targets low- to mid-single-digit volume growth and high single-digit adjusted growth in earnings before interest and tax over the medium term.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "The Business Times - Companies & Markets",
        "title": "Olam H1 earnings jump to S$1.9 billion on divestment gains from Olam Agri, IT services unit; declares total dividend of S$0.07 a share",
        "url": "https://urgent.news/2026/08/14/olam-h1-earnings-jump-to-s-1-9-billion-on-divestment-gains-from-olam",
        "published": "2026-08-14T00:20:15.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}