CAO Q2 revenue dives; profit up
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Nisha Ramchandani
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Singapore
ASIA Pacific's largest jet fuel trader China Aviation Oil (CAO) reported a 0.24 per cent year-on-year rise in net profit to US$17.79 million for the second quarter ended June 30.
Revenue slumped 35.8 per cent to US$2.52 billion in line with lower oil prices, but a slight fall in cost of sales and lower expenses helped to shore up the bottom line.
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