Olam performed 'below expectations' in 2018 amid tough market, says CEO

Commodity trader Olam International has posted a net profit of S$75.3 million for the fourth quarter, down 71.6 per cent from the same period a year earlier in the absence of an exceptional gain of S$155.4 million.COMMODITY trader Olam International has posted a net profit of S$75.3 million for the fourth quarter, down 71.6 per cent from the same period a year earlier in the absence of an exceptional gain of S$155.4 million.

Revenue for the three months ended Dec 31 was S$8.5 million, up 16.9 per cent on higher trading volumes. For the 2018 full year, Olam made a net profit of S$347.8 million, down 40.1 per cent from 2017 despite a 16 per cent rise in revenue to S$30.5 million as the increased trading volumes from grains had a lower selling price than that of other products in the portfolio.

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