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Hot Stock Shell rises 2.67% on firmer 2Q results
by Cals Wed 12 Aug 2015, 18:46
Hot Stock
Shell rises 2.67% on firmer 2Q results
KUALA LUMPUR (Aug 12): Shares of Shell Refining Company ([You must be registered and logged in to see this image.] Financial Dashboard) (Federation of Malaya) Bhd rose on the back of the company posting a net profit of RM322.19 million in its second quarter ended June 30, 2015.
At 9.07am, Shell rose 13 sen to RM5 with 20,000 shares done.
However, the group’s latest quarterly revenue fell 24% to RM2.97 billion from RM3.91 billion in 2QFY14, on lower product prices, its filing to Bursa Malaysia today showed.
For the first half ended June 30 (1HFY15), Shell’s net profit came in at RM406.42 million or RM1.35 per share, from a net loss of RM72.09 million or 24.03 sen in 1HFY14, on higher refining margins and stockholding gains of RM101 million.
The stockholding gains were a result of weak crude prices and short term product availability, it said. Last year, it saw a stockholding loss of RM26 million.
Meanwhile, revenue for 1HFY15 was down 31% to RM5.45 billion, from RM7.9 billion in 1HFY14, again due to lower product prices.
In 1HFY15, the refinery processed 19.6 million barrels of crude oil, and sold 21.3 million barrels of products, up 3% from 1HFY14 .
In a media statement, Shell Refining managing director Amir Bakar said the company’s 2Q results can be attributed to the group’s continued focus on strong operational performance and product quality, which puts the group in a good position to capitalize on the current business environment.
Shell rises 2.67% on firmer 2Q results
KUALA LUMPUR (Aug 12): Shares of Shell Refining Company ([You must be registered and logged in to see this image.] Financial Dashboard) (Federation of Malaya) Bhd rose on the back of the company posting a net profit of RM322.19 million in its second quarter ended June 30, 2015.
At 9.07am, Shell rose 13 sen to RM5 with 20,000 shares done.
However, the group’s latest quarterly revenue fell 24% to RM2.97 billion from RM3.91 billion in 2QFY14, on lower product prices, its filing to Bursa Malaysia today showed.
For the first half ended June 30 (1HFY15), Shell’s net profit came in at RM406.42 million or RM1.35 per share, from a net loss of RM72.09 million or 24.03 sen in 1HFY14, on higher refining margins and stockholding gains of RM101 million.
The stockholding gains were a result of weak crude prices and short term product availability, it said. Last year, it saw a stockholding loss of RM26 million.
Meanwhile, revenue for 1HFY15 was down 31% to RM5.45 billion, from RM7.9 billion in 1HFY14, again due to lower product prices.
In 1HFY15, the refinery processed 19.6 million barrels of crude oil, and sold 21.3 million barrels of products, up 3% from 1HFY14 .
In a media statement, Shell Refining managing director Amir Bakar said the company’s 2Q results can be attributed to the group’s continued focus on strong operational performance and product quality, which puts the group in a good position to capitalize on the current business environment.
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