Olam profit soars on strong food ingredients performance
Ofi revenue jumps 52% as group pursues SALIC stake sale
14 August 2025
1 minute read
By: Singapore's Olam Group reported a near seven-fold jump in first-half earnings on Thursday, primarily driven by strong performance at its food ingredients division due to higher average sales price, reported Reuters.
Olam, one of the world's biggest agricultural commodity traders, has been ramping up efforts to unlock value through a stake sale in Olam Agri to Saudi Arabia's agricultural and livestock investment firm, SALIC. It is also looking to demerge and list its food ingredients business, Ofi.
"Pursuant to the proposed sale of Olam Agri to SALIC and the plan to responsibly divest the assets and businesses of the remaining Olam Group, our focus is to prioritise Ofi and support its efforts in realising its full potential value," said CEO Sunny Verghese.
Ofi, a diversified food and beverage platform, reported revenue of S$14.7 billion ($11.49 billion) in the six months to June 30, around 52% higher than last year, with operating earnings jumping 13% to S$535.8 million.
That boosted the group's reported profit attributable to S$323.8 million for the first half of 2025, compared with S$48 million a year earlier. It declared an interim dividend of 2 Singapore cents per share.
($1 = 1.2795 Singapore dollars)
