China Aviation Oil Q3 net profit falls 8%

CHINA Aviation Oil (S) Corp's net profit for the three months to September fell nearly 8 per cent to US$21.4 million from S$23.2 million a year ago mainly owing to lower gains from trading activities and optimisation activities due to supply disruptions led by weather and refineries outages.

The jet fuel trader posted a 33 per cent improvement in revenue to US$5.2 billion from some US$4 billion a year ago which was attributed to the increase in trading volume and oil prices.

Earnings per share for the quarter came in at 2.49 US cents from 2.70 US cents a year ago.

The counter fell 1.5 Singapore cents or 0.8 per cent to S$1.76 on Thursday.