SINGAPORE (Nov 14): Olam reported 3Q18 earnings of $20.7 million, down 14.2% from a year ago against a strong 3Q17, mainly due to lower contribution from coffee, peanuts and Commodity Financial Services (CFS). This brings 9M18 earnings to $272.6 million, down 13.6% y-o-y.

Revenue for 3Q18 rose 23.6% to $8.3 billion on the back of a 66.4% increase in volume traded to 9.7 billion MT. As a result, revenue for 9M18 came in 15.7% higher at $22 billion on the back of a 57.8% rise in volume to 23.3 billion MT.

9M18 EBITDA for Edible Nuts, Spices & Vegetable Ingredients (SVI) fell by 18.3% to $277.0 million, impacted by the peanut businesses in Argentina and the US, which offset the improved performance by SVI, excluding tomato processing.

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