Olam Says Profit Rises 26% as Sales Volumes Almost Double
This article is for subscribers only.
Olam International Ltd., the food commodities supplier part owned by Singapore’s Temasek Holdings Pte, said first-quarter profit gained 26 percent as sales volumes almost doubled.
Net income was S$43.2 million ($35.3 million) in the three months ended Sept. 30, from S$34.2 million a year ago, Singapore-based Olam said today in a statement. That compares with the S$27.6 million average estimate of four analysts surveyed by Bloomberg News. Revenue increased 45 percent to S$4.69 billion.