The group expects to incur additional one-off and non-recurring expenses associated with the reorganisation plan in 2HFY2022 although these expenses for the full year are expected to be lower than the total recorded for 2021.
Olam Group has posted 1HFY2022 ended June earnings of $429.1 million, a slight 1.8% increase y-o-y from $421.5 million recorded in the previous corresponding period.
This is attributed to the strong EBIT growth partly offset by higher finance costs amid a high interest rate environment, taxes and higher one-off exceptional charges related to the group’s reorganisation. Excluding exceptional items, operational PATMI was up 8.2% to S$472.5 million.
