Corrected: UPDATE 1-Singapore's Olam posts sixfold jump in first-half profit, declares special dividend

Olam

14/08/2026 24:59

Corrects paragraph 4 to say interim dividend was 1 Singapore cent per share, not 7; and was lower, not higher, than last year
Aug 14 (Reuters) - Singapore's Olam Group OLAG.SI reported a nearly sixfold jump in first-half profit on Friday, boosted by gains from asset sales and a revaluation linked to its ongoing restructuring programme.
The agricultural products manufacturer logged a total one-off gain of S$1.75 billion ($1.37 billion) from the disposal of a 44.58% stake in Olam Agri and the sale of its technology services business Mindsprint.
That helped the group post profit attributable of S$1.91 billion for the six months ended June 30, compared with S$323.8 million a year earlier.
Olam declared an interim dividend of 1 Singapore cent per share, lower than last year's 2 Singapore cents. The company also announced a special dividend of 6 Singapore cents per share.
However, the group's operational profit attributable from continuing operations more than halved to S$64.4 million.
The flagship food ingredients unit, ofi, expects market volatility to continue due to geopolitical developments, evolving trade policies and weather-related supply risks.
The unit targets low- to mid-single-digit volume growth and high single-digit adjusted growth in earnings before interest and tax over the medium term, Olam said.
 
 ($1 = 1.2800 Singapore dollars)

 (Reporting by Aamir Shaik Khalid in Bengaluru; Editing by Diti Pujara and Subhranshu Sahu)
 ((Aamir.SheikKhalid@thomsonreuters.com;))