Stocks to watch: Olam, SIA, Genting Singapore, Hyflux, Raffles Education

AGRIBUSINESS Olam International on Friday posted a net profit of S$31.26 million for its first quarter ended March 31, 2015, down a hefty 92.1 per cent from S$396.13 million in the year-ago period.

The commodity group said net earnings plunged on the back of a net exceptional loss of S$97.2 million in Q1, mainly from the buyback of bonds, while net earnings in the year-ago period had included an exceptional gain of S$293.9 million.

Revenue for the quarter was down 10.7 per cent at S$4.32 billion, from S$4.84 billion in the year-ago period, as sales volume fell 33.2 per cent to S$2.68 billion from S$4.01 billion in the year-ago period, as the company reduced volumes or exited from lower-margin businesses, and instead focused on growing its prioritised platforms.

Singapore Airlines (SIA) on Thursday reported a net profit of S$39.6 million for the fourth quarter of FY14/15, up nearly 47 per cent year on year.