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Olam's Q1 net profit up 6.1% at S$179m on net exceptional gains
Excluding exceptional items, however, earnings fell 24.9%; revenue rose 4.6% to S$7.68 billion
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Vivienne Tay
Published Thu, May 14, 2020 · 09:50 PM
Singapore
OLAM International recorded a 6.1 per cent rise in net profit to S$179.1 million for the first quarter ended March 31, from S$168.8 million a year earlier, according to a business update released on Thursday.
This came on the back of S$43.2 million in net exceptional gains in the quarter due to the agri-food giant's divestment of its remaining half stake in Far East Agri, which held its sugar refinery assets in Indonesia.
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