Noble Group net profit nearly triples to US$247.4m in fourth quarter

SINGAPORE: Mainboard-listed Noble Group says its net profit for the fourth quarter has jumped nearly three-fold to US$247.4 million.


This is compared with US$84.9 million profit in the same three-month period a year ago.

Noble says this is on the back of higher revenue, which rose 82 percent to US$17.4 billion, from US$9.6 billion last year.

The commodities firm say the better revenue is due to higher contributions from its agriculture, energy and metals, and minerals and ores units.

Meanwhile, for the full year the company has reported net profit of US$605.6 million, compared with US$556 million last year.

Looking forward, Noble says it is optimistic about its business and financial performance this year.

It also believes that the firm is well positioned to further expand its business and leverage its investments and supply chain activities.

- CNA/cc