CEFC International Q3 net soars to US$11.97m

Singapore

WITH its enhanced trading expertise in place, CEFC International posted a net profit of US$11.97 million for the third quarter ended September, up from its year- ago figure of US$661,000.

The group, which engages in the trading of petrochemical, fuel oil and petroleum products, saw revenue rise 73 per cent year on year to US$162.3 million for Q3 2015. This was due to higher trading volume brought by the partnership that the company entered into with a subsidiary of CEFC China Energy Limited (CEFC China) in September to serve as its exclusive overseas procu…