Noble group
said that its 1Q12 profit almost halved as it recorded losses from supply chain
assets and a slow agriculture season. 1Q12 net profit stood at US$110.1 million,
a 46 percent year-on-year drop despite an increase in revenue to US$22.8
billion. The stark difference in bottom and top line performance pointed to a
shrinkage in net profit margin to 0.48 percent from 1.01 percent in 1Q12. Noble
remarked that a significant portion of the decline came from a US$78 million
plummet in supply chain asset income. Separately, it said that its current
divestment of its stake in Australia’s Gloucester Coal is on track and
it should
be able to sell its Brazilian liquid bulk terminal and storage facility
provider, Terminal Maritimo do Maranhao soon.
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