Olam Q1 earnings rise 5.7%; revenue down 7.9

DESPITE a drop in both revenue and net gain from valuation of biological assets, first-quarter earnings for Olam International climbed 5.7 per cent.

The agri-commodities trader recorded net profit of $45.6 million, up from $43.2 million.

Revenue declined 7.9 per cent to $4.3 billion on lower commodity prices.

Volume had remained flat at 3.7 million tonnes due to particularly strong growth of 98 per cent this period last year, driven by its food staples business, said Olam.

Net gain from changes in the valuation of biological assets fell 67.1…