29 Aug '14, 2pm

SINGAPORE: One-offs boost Olam FY profits: Olam International has booked a jump in full-year earnings, which w...

SINGAPORE: One-offs boost Olam FY profits: Olam International has booked a jump in full-year earnings, which w...

Olam reported significant improvement in the trajectory of cash flow generation with Free Cash Flow to Firm (“FCFF”) and Free Cash Flow to Equity improving by S$327.0 million and S$295.8 million respectively as compared to FY2013. FCFF for FY2014 was marginally negative at S$28.7 million compared to negative S$355.7 million in FY2013. This was driven by higher cash flows from operations of S$1,175.5 million (FY2013: S$1,073.8 million) and reduction in net capital expenditure (including release of cash from strategic plan initiatives) to S$206.0 million (FY2013: S$1,050.6 million). Olam also achieved a reduction in working capital in three key segments. However, a sharp increase in commodity prices in H2 FY2014, particularly in Coffee and Cocoa in the Confectionery & Beverage ingredients segment, led to an overall increase in working capital as compared to the corresponding...

Full article: http://www.just-food.com/news/one-offs-boost-olam-fy-prof...

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