Olam International's Q1 profit grows 5.7% despite revenue drop

Commodities trader Olam International posted a 5.7 per cent year-on-year increase in net profit to $45.6 million on Thursday.

This was despite revenue for the three months to Sept 30 tumbling 7.9 per cent to $4.32 billion from the preceding year.

Olam said revenue fell mainly due to softer commodity prices.

Earnings per share were 1.71 cents as at Sept 30 this year, up slightly from 1.6 cents as at Sept 30 last year.

Net asset value rose to $1.541 as at Sept 30 from $1.5116 as at June 30.

The company's share price rose 2.5 cents to $1.495 on Thursday.