SINGAPORE (May 14): Food and agriculture company Olam International has reported a 6.1% y-o-y increase in 1Q20 earnings to $179.1 million, on the back of net exceptional gains mainly from the divestment of Olam’s 50% stake in Far East Agri and the reduction of the company’s effective interest in ARISE P&L.

Revenue for 1Q20 grew 4.6% to $7.68 billion from last year.

Earnings before interest, tax, depreciation and amortisation (EBITDA) declined 7.0% to $390.9 million due to lower contributions from the company’s edible nuts, spices, coffee, dairy and edible oils.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook