Olam unlikely to achieve its US$ 1b profit target: Nomura

Nomura dispels Olam's claim that current assets should be able to contribute ~65-70% of the target by 2016.

Here's more from Nomura:

Surprisingly, management stuck to its 2016 plan to achieve US$1bn PAT (CAGR of ~38% from FY12) and said that current assets should be able to contribute ~65-70% of the target (even if they achieve US$650-700mn, it should be 17% CAGR). We still believe it is unlikely, but we maintain asset momentum may pick up in one to two years, which should lead to growth trajectory.

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