Singapore Stock Market News

Olam International - Cautious FY13 Outlook

StockFanatic
Publish date: Wed, 29 Aug 2012, 12:44 PM
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Uninspiring FY12 showing
Olam International Limited (Olam) saw FY12 revenue coming in around S$17.1b, up 8.2%, but was around 9.2% shy of our forecast; this despite a 26.3% jump in sales volume to 10.7m MT. While Olam reported net profit fell 13.7% to S$370.9m, it noted that operational net profit (excluding one-off items and non-operating biological asset gains) was down 4.6% at S$355.5m. However, our estimate of S$356.1m did not include any biological asset gains. Olam declared a final dividend of S$0.04/share, down from S$0.05 a year ago.
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