CAO chalks up strong profit for Q4FY15

Singapore

THE region's biggest jet fuel trader, China Aviation Oil (CAO) Corp, reported a net profit of US$11.41 million for the fourth quarter ended Dec 31, 2015, more than doubling from US$4.43 million a year ago, on the back of higher gross profit and contributions from associates.

This was despite revenue slumping some 54.4 per cent year on year to US$1.97 billion in line with the drop in oil prices and the trading volume of jet fuel.