Olam reports 34.5% drop in 2Q earnings to $61.5 mil on higher costs, exceptional losses

SINGAPORE (Aug 14): Olam International reported 2Q19 earnings of $61.5 million, or 1.49 cents per share, down 34.5% from a year ago.

The weaker bottomline came on the back of higher cost of goods sold, depreciation and finance costs and exceptional losses.

Revenue for 2Q19 from goods and services rose 15.7% to $8.6 billion while other income rose 22.6% to $8.5 million but cost of goods rose 19% to $7.9 billion.

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