CAO's Q4 net dives 25.7% to US$13.5m
JET fuel trader China Aviation Oil (CAO) reported a 25.7 per cent year-on-year dive in net profit to US$13.5 million for the fourth quarter ended Dec 31, 2013, largely due to lower contributions from associates.
Revenue edged some 1.2 per cent lower to US$4.35 billion on the back of lower jet fuel prices in 4QFY13, the region's largest jet fuel trader said. Prices averaged US$125.03 per barrel during the quarter, versus US$129.83 per barrel in 4QFY12.
Earnings per share for the quarter under review were 1.88 US cents, down from 2.53 US cents in the corresponding quarter a year earlier.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
DBS customers unable to login to Digibank, PayLah! on Thursday
If inflation continues to build, the Fed won’t be able to maintain neutral stance for long
Asia markets mixed after Fed leaves rates unchanged; STI rises 0.1%
Singapore Savings Bond 10-year average yield hits year-to-date high of 3.33%
Universal Music Group reaches new licensing agreement with TikTok
Sumitomo to bolster shareholder returns in new mid-term plan