Volatile trading hits CAO's Q4 earnings
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CHINA Aviation Oil (CAO) took a hit from volatile oil trading conditions in the fourth quarter, with its earnings plummeting 67.2 per cent.
Net profit for the group fell to US$4.43 million for the three months ended Dec 31, from US$13.5 million a year ago. Revenue was little changed at US$4.32 billion, a decrease of 0.7 per cent year-on-year.
