SINGAPORE Feb 28 Commodity trader Olam
International Ltd swung to a profit in its fourth
quarter due to lower exceptional losses and strong results at
its confectionery and beverage ingredients segment, as well as
its food staples and packaged food business.
Singapore-based Olam posted a profit after tax and minority
interests (PATMI) of S$102.2 million ($72.7 million), compared
to a loss of S$269.4 million a year ago.
Operational PATMI, which excludes exceptional items, more
than doubled to S$102.3 million.
Olam, which counts Singapore state investor Temasek Holdings
and Japan's Mitsubishi Corp as its largest
shareholders, is a major player in a number of commodities
including cocoa, coffee and edible nuts.
($1 = 1.4054 Singapore dollars)
(Reporting by Aradhana Aravindan; Editing by Stephen Coates)