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Thursday, 12 August 2010

Noble's Q2 net profit falls 65% despite record quarterly revenue

By ANGELA TAN


commodities related Noble Group Ltd reported on Thursday that its net profit for the second quarter ended June 30, 2010 fell 65 per cent from a year ago to US$85.88 million.

Excluding one-off gains, the adjusted quarterly net profit was US$47.2 million in second quarter 2010 compared to US$94.8 million in second quarter 2009.

The group achieved a record quarterly revenue of US$12.92 billion, up 80 per cent from a year ago.

The higher revenue level was due to the comparably higher commodity prices compared to a year ago as well as the shift in its revenue composition to include higher priced oil and gas products.
Posted by Createwealth8888 at 20:24
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