Noble's Q3 net profit climbs 19%

By ANGELA TAN


Commodities group Noble Group Limited reported on Tuesday that its net profit for the third quarter of 2010 rose 19 per cent from a year ago to US$157.19 million.

Excluding other gains in the current quarter, the adjusted quarterly net profit was US$131.1 million, comparable to the corresponding period last year.

Revenue was up 79 per cent from a year ago to US$14.94 billion. The higher revenue levels reflected the impact of a more stable economic environment which returned commodity price levels to more normalized levels.

Noble's energy segment, particularly Oil & Gas division, now represents 64 per cent of group revenue.