Olam Q3 profit drops 14.2% to S$20.7m

Singapore

AGRI-FOOD business Olam International said third-quarter earnings fell 14.2 per cent to S$20.7 million against a strong year-ago quarter on tough trading conditions in coffee, and lower performance from its peanut business and commodity financial services (CFS).

Revenue for the three months to end-September climbed 23.6 per cent to S$8.29 billion from S$6.71 billion a year ago.