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Singapore's Olam International Q3 net profit rises 10 pct

Zoom in font  Zoom out font Published: 2013-05-15  Origin: Reuters  Authour: Eveline Danubrata  Views: 22
Core Tip: Singapore commodities firm Olam International Ltd reported a 10 percent rise in third-quarter net profit on Wednesday, helped by a strong performance in its food staples and packaged food business.
Singapore commodities firm Olam International Ltd reported a 10 percent rise in third-quarter net profit on Wednesday, helped by a strong performance in its food staples and packaged food business.

Olam posted a net profit of S$108.5 million ($87.3 million) for the three months ended March, up from S$98.7 million a year earlier.

Olam, propped up by Singapore state investor Temasek Holdings after short-seller Muddy Waters attacked its debt-fuelled acquisitions, said it would nearly halve its capital spending over the next three years from an earlier plan.

 
 
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