Trafigura thrives amid virus outbreak as profit jumps 27%

Geneva

TRAFIGURA Group reported a 27 per cent gain in half-year net income as the commodities trading giant benefitted from supply and demand disruptions created by the coronavirus pandemic.

The results, for the six months to March 31, offer a glimpse into how some of the biggest traders of raw materials are faring during the public health crisis that caused prices from copper to diesel to plummet. While bigger rival Vitol Group's earnings suffered, Trafigura made the most of the price fluctuations. "This disruption in market conditions creates volatility on which Trafigura managed to thrive," chief financial officer Christophe Salmon said.