Olam's Q3 profit more than doubles on fair value gain

BOOSTED by exceptional items, Olam International's earnings for the third quarter more than doubled to $396.1 million from $108.5 million. The results included an exceptional fair value gain of $271 million from the revaluation of its holding in PureCircle Ltd.

Revenue inched up 2.5 per cent to $4.8 billion.

Excluding the one-off items, its profit after tax and minority interest fell to $102.2 million, 15.9 per cent lower than the previous year, owing to higher depreciation and amortisation costs and tax expenses.