China Aviation Oil Q4 profit up 57%

INCREASED trading volumes and higher share of results from associates gave a lift to results for jet fuel supplier China Aviation Oil (Singapore) for its fourth quarter.

Net profit surged 57 per cent to US$17.9 million from the previous year, the group said in a Singapore Exchange filing on Thursday evening.

For the three months ended Dec 31, revenue leapt 65 per cent to US$3.3 billion from the previous year. The increase in revenue was due mainly to an increase in trading volume, it said.

Earnings per share grew to 2.08 US cents from 1.33 US cents in the previous year.

CAO has proposed a final dividend of 4.5 Singapore cents per share from 3 Singapore cents in the previous year.