Olam H1 profit up five times at S$1.9 billion on Olam Agri spin-off; eyes ‘full value’ from ofi, divestments

[SINGAPORE] Olam Group aims to “extract full value” from its food ingredients unit, ofi, while divesting other assets, following the spin-off of its agribusiness arm Olam Agri, said management on Friday (Aug 14). 

“The focus internally is going to be purely on ofi and OGH (formerly known as the remaining Olam Group), which are essentially the continuing businesses,” said group chief financial officer Venkataraman Krishnan at the group’s earnings briefing for the first half of the year ended Jun 30. 

The briefing was attended by members of Olam Group’s new senior management, including Shekhar Anantharaman, group executive director and CEO of ofi, as well as Gautam Wadhwa, CEO of OGH.