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Chemoil Energy's Q4 net profit falls 41% on sluggish global demand

Published on Feb 12, 2014 10:24 PM
 

MARINE fuel supplier Chemoil Energy reported a 41 per cent dive in fourth-quarter net profit to US$79.3 million (S$101 million), as sluggish global demand, and higher rentals and labour costs hit its bottom line.

But revenue for the three months ended Dec 31 rose 1 per cent to US$3.34 billion.

For the full year, the firm suffered a 34 per cent drop in net profits to US$100.1 million, while revenue fell 5 per cent to US$13 billion.