Singapore-based Olam International today (15 May) reported a jump in third-quarter profits.


The company posted net profit of S$55.9m (US$40.6m) for the three months to 31 March, a rise of 38.5% on the year.


The agricultural products and food ingredients group said it weathered the storm of rising costs relatively unscathed.


“We have achieved a strong growth… during the quarter and cumulatively over the nine months in spite of unprecedented levels of market volatility we experienced during this period,” CFO Krishnan Ravikumar said.


“These have been achieved on account of sustained high growth rate of our existing businesses and the value and earnings-accretive acquisitions we made.”


Revenue leapt 52.2% to S$2.4bn.