date:Aug 30, 2013
Olam posted net profit of S$56.8 million ($44.4 million) for the three months ended in June, down from S$109.5 million a year earlier. The result lagged the average net profit forecast of S$75.4 million from three analysts polled by Reuters.
The company's earnings in the fourth quarter were hit by increased tax charges of S$50.6 million, compared to a net tax credit of S$8.2 million a year earlier.
While the long term trends in the agri-sector remain attractive, the nearer term macroeconomic u