China Aviation Oil (S) posts 6.9% fall in Q2 net profit to $17 million

China Aviation Oil (Singapore) Corp has posted a 6.9 per cent drop in second quarter net profit to US$13.4 million (S$17 million).

The decrease in net profit was mainly attributable to lower profit contributions from associated companies.

Turnover for the three months to June 30 inched up 1.5 per cent to US$3.77 billion.

Jet fuel supply and trading volume slumped by 4.9 per cent to 2.7 million tonnes, mainly due to lower trading volume.

The supply and trading volume of other oil products jumped 56.7 per cent to 1.4 million tonnes, as trading activities increased across the board.

Earnings per share eased to 1.87 US cents from 2.01 US cents previously while net asset value per share firmed to 67.33 US cents compared to 64.16 US cents as at Dec 31.