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.