Olam posts first full-year loss on one-off charges (Amended)
S$397m exceptional loss for 2015 includes writedown of investment in PureCircle
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Singapore
OLAM International swung to a net loss in the fourth quarter and the full 2015 financial year - its first since listing in 2005 - hit by one-off charges including a writedown in the fair value of its investment in sweetener producer PureCircle.
Still, even as the global economy looks increasingly fragile, the firm is optimistic that its recession-proof food business, plus its well-diversified structure, will help it ride out any economic downturn, its chief executive Sunny Verghese told The Business Times.
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