Advertisement
Singapore markets closed

  • Straits Times Index

    3,176.51
    -11.15 (-0.35%)
     

  • Nikkei

    37,068.35
    -1,011.35 (-2.66%)
     

  • Hang Seng

    16,224.14
    -161.73 (-0.99%)
     

  • FTSE 100

    7,895.85
    +18.80 (+0.24%)
     

  • Bitcoin USD

    64,496.48
    +983.79 (+1.55%)
     

  • CMC Crypto 200

    1,387.36
    +74.74 (+6.04%)
     

  • S&P 500

    4,987.62
    -23.50 (-0.47%)
     

  • Dow

    37,934.13
    +158.75 (+0.42%)
     

  • Nasdaq

    15,404.39
    -197.11 (-1.26%)
     

  • Gold

    2,407.70
    +9.70 (+0.40%)
     

  • Crude Oil

    82.96
    +0.23 (+0.28%)
     

  • 10-Yr Bond

    4.6080
    -0.0390 (-0.84%)
     

  • FTSE Bursa Malaysia

    1,547.57
    +2.81 (+0.18%)
     

  • Jakarta Composite Index

    7,087.32
    -79.50 (-1.11%)
     

  • PSE Index

    6,443.00
    -80.19 (-1.23%)
     

Singapore's Olam Q1 profit jumps on lower one-off charges

Reuters
A man passes an Olam signage in their office in Singapore's central business district February 3, 2016. REUTERS/Edgar Su/Files

SINGAPORE (Reuters) - Singapore-based commodity trader Olam International Ltd reported a 213 percent rise in its first-quarter profit to S$113.6 million ($83 million) on lower exceptional charges compared with a year ago.

However, operational profit, which excludes one-off items, fell 5.5 percent to S$126.1 million, due to lower contributions from its edible nuts, spices & vegetable ingredients and commodity financial services segments.

Revenue rose 10.2 percent for the quarter ended March 31, the company said in a statement on Friday.

Singapore-based Olam, which counts Singapore state investor Temasek Holdings and Japan's Mitsubishi Corp as its largest shareholders, is a leading player in markets of a number of commodities including cocoa, coffee and edible nuts.

($1 = 1.3728 Singapore dollars)

(Reporting by Aradhana Aravindan; Editing by Stephen Coates)