Olam's Q2 earnings treble to S$94.7m

Singapore

OLAM International's second-quarter earnings have trebled to S$94.7 million despite lower revenue and a net loss from changes in the valuation of biological assets.

The surge in profit attributable to shareholders was helped by a sharp drop in profit attributable to non-controlling interests from $43 million to a negative S$3.9 million. Also helping were lower expenses and its share of profits from joint ventures and associates. The latter came to S$3.9 million, against a negative S$6.7 million a year ago.