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Olam back in the black with S$102m net in absence of exceptionals (Amended)

Growth led by cocoa, coffee, food staples and packaged foods

Singapore

IMPROVED operational performance and the absence of exceptional losses brought Olam International back into the black in the fourth quarter of 2016.

The agri-commodity group made a net profit of S$102.2 million for the three months ended Dec 31, a reversal from its loss of US$269.5 million a year earlier.

Its revenue rose 12 per cent to S$6.1 billion as the group expanded trading volumes by 14 per cent to 4.2 million metric tonnes.

For the full year, Olam recorded net profit of S$351.3 million,...

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