SINGAPORE May 15 Singapore-based commodity
trader Olam International Ltd reported a 26.6 percent
rise in its first quarter profit to S$143.9 million ($102.5
The company said it saw growth in the edible nuts, spices
and vegetable ingredients segment as well as its food staples
and packaged foods business, which offset lower contributions
from segments such as confectionery and beverage ingredients.
Operational profit, which excludes exceptional items, rose
14.1 percent to S$143.9 million, it said.
Olam, which counts Singapore state investor Temasek Holdings
and Japan's Mitsubishi Corp as its largest
shareholders, is a major player in markets for a number of
commodities including cocoa, coffee and edible nuts.
The company said it remained "focused on turning around
underperforming businesses, ensuring gestating businesses reach
full potential and achieving positive free cash flow."
($1 = 1.4041 Singapore dollars)
(Reporting by Aradhana Aravindan; Editing by Richard Pullin)