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Olam International | Hold

Feb 16 close: S$2.01

Target price: S$2.20

DBS Group Research, Feb 16

Q2 FY15 core profit after tax and minority interests (Patmi) (excluding biological gains and exceptional items) fell 19 per cent year-on-year to S$117 million, which was below our expectations. The main cause of the weak results was the adverse impact from the sharp devaluation of the Russian and Nigerian currencies, with the net effect on the group's earnings before interest, taxes, depreciation and amortisation...

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