SINGAPORE : Singapore mainboard-listed Olam International has reported a 62 per cent increase in first-quarter net earnings, compared to a year ago.

Net profit for the three months ended September came in at S$14.9 million.

The strong growth was attributed to a combined result of growth in sales volume and net contribution across all of its business segments.

Revenue rose by 24.4 per cent to S$1.71 billion, partly due to a 20.1 per cent improvement in sales volume to 1.1 million tonnes.

The company said it expects trading conditions to remain difficult over fiscal year 2009, with a slow down across both the OECD (Organization for Economic Cooperation and Development) and emerging economies. - CNA/ms