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Thursday, November 15, 2012

Olam International posts 26.3% higher Q1 PATMI of $43.2m


Olam International, the global, integrated supply chain manager and processor of agricultural products and food ingredients, reported Profit After Tax and Minority Interest (PATMI) of $43.2 million for Q1 FY2013 compared to $34.2 million in Q1 FY2012.
Sales volume grew 97.7% to 3.7 million metric tons while sales revenue increased 45.2% to$4.69 billion. Overall NC (Net contribution) grew 23.6% to $311.5 million. While sales volume rose, NC per tonne was lower at $85 compared to $135 in Q1 FY2012, impacted primarily by the significant growth in the grains business which has inherently lower NC margins within the Food Staples & Packaged Foods segment.

The Food category accounted for 90.4% of total volumes, 80.2% of total revenue and 89.4% of total NC. Sales volume increased by 114.7% and NC increased by 24.2% compared to Q1 FY2012. Sales volume for the Non-food category improved by 13.1% and NC increased by 19.4% led by a turnaround in the commodity financial services segment.

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