China Aviation Oil's Q2 profit up 4%

CHINA Aviation Oil (Singapore) Corporation on Thursday said that higher earnings from trading and optimisation activities have led to a 4 per cent or US$0.97 million increase in second-quarter net profit to US$24.6 million, from US$23.6 million a year ago.

Revenue for the period ended June 30 grew 21.48 per cent from US$3 billion last year to S$3.67 billion this year, primarily due to higher oil prices, the company said.

Earnings per share increased to 2.86 US cents for the quarter, compared to 2.74 US cents in the previous year.

No dividends have been declared for the period. China Aviation Oil is a physical jet fuel trader in the Asia-Pacific.