Noble's 2013 profit down 48%

Singapore

NOBLE Group's 2013 earnings tumbled 48 per cent as losses on supply chain assets and from associates spiked.

Net profit attributable to shareholders was US$243.5 million - missing the US$288.7 million average of 17 analysts' estimates in a Bloomberg poll.

This translates to earnings of 3.4 US cents per share, down from 7.06 US cents last year.

Revenue inched up 4 per cent to a record high of US$97.9 billion, on record trading volumes of 233.4 million tonnes.

The group saw losses on supply chain assets spike to US$65.8 million from US$488,000 in 2012; its share of losses from associates rose soared from US$1…