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Singapore's Olam Q1 net profit falls 92 pct on one-off items
May 15, 2015 / 12:03 AM / 3 years ago

Singapore's Olam Q1 net profit falls 92 pct on one-off items

SINGAPORE, May 15 (Reuters) - Singapore-based commodity firm Olam International Ltd said on Friday that net profit for the three months ended March 31 tumbled 92 percent to S$31.3 million ($23.7 million) due to one-time items.

Olam said an exceptional gain from the revaluation of its stake in PureCircle Ltd and the sale and leaseback of Australian almond assets in the same period a year earlier, and a net exceptional loss from the buyback of bonds during the first quarter, contributed to the sharp fall in net profit.

Operating profit after taxes and minority interests for the period rose 25.7 percent on the year to S$128.5 million, Olam also said.

$1 = 1.3203 Singapore dollars Reporting by Rujun Shen; Editing by Paul Tait

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