CAO: 3Q13 Net Profit Up 65% To US$21.8 Million. 04 Nov 2013 - TopicsExpress

CAO: 3Q13 Net Profit Up 65% To US$21.8 Million. 04 Nov 2013 11:00 China Aviation Oil (Singapore) Corporation Ltd announced a net profit of US$21.8 million for the quarter ended 30 September 2013. 3Q 2013 net profit was up 65.0% compared to the corresponding period last year, due to higher share of profits from CAOs key associated company, Shanghai Pudong International Airport Aviation Fuel Supply Company and a one-off credit resulting from the provision of past claims relating to customs duties and value added tax amounting to US$11.9 million. The activities from supply and trading of jet fuel and trading of other oil products continued to be profitable, contributing gross profit of US$7.1 million. Net profit of US$56.7 million for the nine months ended 30 September 2013 was up 18.1%... shareinvestor/news/news.html?source=sg_si_express&nid=71284

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