Olam Q2 earnings up 20% on smaller fair value loss
Net profit jumps to S$114.9m from S$95.8m for year-ago period
Singapore
EARNINGS for Olam International rose 20 per cent for the second quarter, thanks to a smaller loss from changes in fair value of biological assets this year.
Net profit jumped to S$114.9 million from S$95.8 million for the year-ago period, the agri-commodity group said in a Singapore Exchange filing on Friday morning.
For the three months ended June 30, revenue grew 3.5 per cent to S$4.98 billion from the preceding year.
The rise in revenue was due to higher volumes and lower prices of some commo…
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