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Singapore's Olam says Q3 net profit rises 17.5 pct
November 15, 2017 / 12:13 AM / 9 days ago

Singapore's Olam says Q3 net profit rises 17.5 pct

SINGAPORE, Nov 15 (Reuters) - Singapore-based commodity trader Olam International reported a 17.5 percent rise in its third-quarter net profit, citing strong volume growth and improved operational performance across most of its business segments.

The company reported a net profit of S$24.1 million ($17.7 million) for the three months ended September, compared with S$20.5 million a year ago. Operational profit, which excludes exceptional items, was 17.1 percent higher at S$24.0 million.

Olam, which counts Singapore state investor Temasek Holdings and Japan’s Mitsubishi Corp as its largest shareholders, is a major player in markets for a number of commodities including cocoa, coffee and edible nuts. ($1 = 1.3588 Singapore dollars) (Reporting by Aradhana Aravindan Editing by Richard Pullin)

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