SINGAPORE, May 15 (Reuters) - Singapore-based commodity firmOlam International Ltd said on Friday that net profitfor the three months ended March 31 tumbled 92 percent to S$31.3million ($23.7 million) due to one-time items.
Olam said an exceptional gain from the revaluation of itsstake in PureCircle Ltd and the sale and leaseback ofAustralian almond assets in the same period a year earlier, anda net exceptional loss from the buyback of bonds during thefirst quarter, contributed to the sharp fall in net profit.
Operating profit after taxes and minority interests for theperiod rose 25.7 percent on the year to S$128.5 million, Olamalso said.
($1 = 1.3203 Singapore dollars) (Reporting by Rujun Shen; Editing by Paul Tait)
