Olam's Q3 net profit down 8.6%

OLAM International posted an 8.6 per cent decline in third quarter net profit to S$20.52 million from a year ago.

Sale of goods and services for the quarter ended Sept 30, 2016, was up 6 per cent to S$4.74 billion but this was offset by a 7.5 per cent increase in cost of goods sold to S$4.26 billion.

Depreciation and amortisation was also up 43.5 per cent to S$82.56 million.

Earnings per share fell to 0.33 cents compared to 0.73 cents.