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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
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