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Olam touched its 52-week low of S$1.17 on 13 October 2022 and there was an exercise of 3 for 20 rights issue at S$1.25 earlier in mid-2021.
down down down... avoid!
Looking at today . Olam confirmed is shortlist favourite.
Feel that Olam is into too many products.
FATABA ( Date: 27-Jul-2023 09:59) Posted:
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Yes I agree nett profit still positive as stated . Dividend might still be given ( maybe less) and this Almond thingy is ONE off due to Aus harvest.
Honestly I dont see why listing might be affect ......never know as it is not stated . Loans and all parties are prepared.
11th Aug after market ....will know. Dyodd
Honestly I dont see why listing might be affect ......never know as it is not stated . Loans and all parties are prepared.
11th Aug after market ....will know. Dyodd
yuhanooi ( Date: 27-Jul-2023 09:31) Posted:
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Only consolation is net profit still positive, and it's a once off charge. But I think IPO got to wait....sigh.
halleluyah ( Date: 27-Jul-2023 09:19) Posted:
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olam is vry attractive fr long....nav is 2.20...gd div abv 6%.....
Is this the reason why IPO was held back ?
Olam Group to report &lsquo materially lower&rsquo 1HFY2023 patmi due to lower crop yield and higher interest costs
Olam Group is guiding for a &ldquo materially lower&rdquo profit after tax and minority interest (patmi) for its results for the 1HFY2023 ended June.
The group will be releasing its mid-year results after trading hours on Aug 11.
According to the group, the decline is mainly due to the &ldquo unprecedented&rdquo and materially lower crop yield in the group&rsquo s almond orchards in Australia. To be sure, the entire almond industry in the country faced a significant and never-before-seen decline in crop yield during the growing season in 2022/2023 compared to the season&rsquo s historical yields and expectations.
&ldquo The group observed a combination of lower bee activity during pollination (due to disease) and unseasonal cold, wet conditions (due to excessive rain and flooding) through the growing and pre-harvest periods. Based on our agronomy assessments and ongoing studies by the industry, these factors led to an unexpected drop in yield and quality of the 2023 almond crop in Australia,&rdquo says Olam.
The yields are expected to be 35% to 40% lower than forecasted. As such, the group is expecting to record a net exceptional one-off, non-recurring charge of US$83 million ($110.2 million) on a post-tax basis.
The final impact for the FY2023 will be determined in the 2HFY2023 after the entire processing and sale of the crop is completed.
&ldquo Based on available agronomy data, overall tree health post the 2023 crop harvest and industry estimates, the orchards are likely to return to their natural yield curve from 2024 onwards,&rdquo says Olam.
In addition to the decline in almond crop yield, higher interest costs were also a factor in impacting the group&rsquo s 1HFY2023 earnings.
That said, the group is still expecting to remain profitable for the 1HFY2023 and FY2023.
in dec coy buy back shares ard 1.4xx....agak coy will b buying back shares too at tis attractive px.....
Olam Group Limited, together with its subsidiaries (the &ldquo Group&rdquo ) wishes to provide the following profit guidance for the first half ended 30 June 2023 (&ldquo H1 2023&rdquo ). The Group expects its H1 2023 Reported Profit after Tax and Minority Interest (&ldquo PATMI&rdquo ) to be materially lower, against the prior corresponding period (&ldquo H1 2022&rdquo ). This decline is primarily on account of (a) an unprecedented and materially lower crop yield in the Group&rsquo s almond orchards in Australia, and (b) the impact of higher interest costs which impacted H1 2023 results.
A large part of the higher interest costs (in the case of working capital funding in particular) are being recovered through an increase in selling prices, albeit with a lag. Almond production, as like any other agricultural crop, is affected by multiple factors during the pollination, growing and harvesting cycles that could impact the yield and quality of the crop. However, the entire almond industry in Australia faced a significant and unprecedented decline in crop yield in the 2022/2023 growing season compared to historical yields and expectations for the season.
The Group observed a combination of lower bee activity during pollination (due to disease) and unseasonal cold, wet conditions (due to excessive rain and flooding) through the growing and pre-harvest periods. Based on our agronomy assessments and ongoing studies by the industry, these factors led to an unexpected drop in yield and quality of the 2023 almond crop in Australia. With the Group having completed the harvest and partial processing of the crop by mid-July, it estimates the final yields to be 35% to 40% lower than forecast.
The Group would therefore expect to record a net exceptional one-off, non-recurring charge of approximately US$83 million on a post-tax basis (PATMI) in its financial statements for H1 2023, subject to finalisation and approval by the Board of the H1 2023 Group results. The final impact for the full year 2023 will be ascertained in H2 2023 after the entire processing and sale of the crop is completed. Based on available agronomy data, overall tree health post the 2023 crop harvest and industry estimates, the orchards are likely to return to their natural yield curve from 2024 onwards.
Notwithstanding this exceptional one-off charge and the impact from higher interest costs, the Group currently expects its overall net profit to remain positive for H1 2023 and FY 2023. Further details of the Group&rsquo s performance will be disclosed when the Group releases its H1 2023 financial results on 11 August 2023.
A large part of the higher interest costs (in the case of working capital funding in particular) are being recovered through an increase in selling prices, albeit with a lag. Almond production, as like any other agricultural crop, is affected by multiple factors during the pollination, growing and harvesting cycles that could impact the yield and quality of the crop. However, the entire almond industry in Australia faced a significant and unprecedented decline in crop yield in the 2022/2023 growing season compared to historical yields and expectations for the season.
The Group observed a combination of lower bee activity during pollination (due to disease) and unseasonal cold, wet conditions (due to excessive rain and flooding) through the growing and pre-harvest periods. Based on our agronomy assessments and ongoing studies by the industry, these factors led to an unexpected drop in yield and quality of the 2023 almond crop in Australia. With the Group having completed the harvest and partial processing of the crop by mid-July, it estimates the final yields to be 35% to 40% lower than forecast.
The Group would therefore expect to record a net exceptional one-off, non-recurring charge of approximately US$83 million on a post-tax basis (PATMI) in its financial statements for H1 2023, subject to finalisation and approval by the Board of the H1 2023 Group results. The final impact for the full year 2023 will be ascertained in H2 2023 after the entire processing and sale of the crop is completed. Based on available agronomy data, overall tree health post the 2023 crop harvest and industry estimates, the orchards are likely to return to their natural yield curve from 2024 onwards.
Notwithstanding this exceptional one-off charge and the impact from higher interest costs, the Group currently expects its overall net profit to remain positive for H1 2023 and FY 2023. Further details of the Group&rsquo s performance will be disclosed when the Group releases its H1 2023 financial results on 11 August 2023.
Profit warning
1 year , 10 years ...wait wait wait , will IPO 0ne day.
CheeryVGoh ( Date: 26-Jul-2023 16:58) Posted:
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Don' t think so.
Wait & see.
Wait & see.
eddyeddy ( Date: 26-Jul-2023 16:42) Posted:
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MGM talked only , no real intention.
CheeryVGoh ( Date: 26-Jul-2023 16:09) Posted:
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Should be S' pore & Saudi Arabia IPO, no updates, nothings so far.
yuhanooi ( Date: 26-Jul-2023 14:04) Posted:
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Huh....? IPO india...mai ruan lai leh...hehe
ruanlai ( Date: 26-Jul-2023 11:57) Posted:
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IPO India lai liao
watch out $1.50 soon
dyodd
watch out $1.50 soon
dyodd
4c dividend shld not b an issue ....I guess
More so on SH is the listing ...when can this proceed as the big $$ is there.
Dyodd
More so on SH is the listing ...when can this proceed as the big $$ is there.
Dyodd
halleluyah ( Date: 26-Jul-2023 11:02) Posted:
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will there be 4ct div next mth??