China Aviation Oil's Q1 net profit up 4.72%
MAINBOARD-LISTED China Aviation Oil (Singapore) reported on Wednesday a 4.72 per cent increase in its Q1 net profit, supported by an increase in gross profit and a higher share of results from the group's associated companies.
Net profit for the three months ended March 31, 2017 stood at US$25.29 million compared to US$24.15 million a year ago. Earnings per share for the quarter came up to 2.94 US cents, down from 2.81 US cents in the previous year.
The group reported a 126.1 per cent surge in revenue to US$3.3 billion, compared to US$1.5 billion in Q1 2016. This was driven largely by higher supply and trading volumes of middle distillates and other oil products.
China Aviation Oil closed at S$1.63, down six Singapore cents, or 3.6 per cent.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
UBS weighs synthetic risk transfer amid capital boost proposals
Oil settles higher on supply concerns in the Mid-East, economic woes subdue gains
S-Reits falter as investors weigh possibility of zero rate cuts in 2024
CapitaLand Investment posts total revenue of S$650 million for Q1
Europe: Stoxx 600 logs best day in three months as banks shine
US: Stocks rally after strong tech results