Noble Q1 net profit down 62%

An employee walks past a sign of Noble Resources, a Noble Group subsidiary, at their premises in Singapore, on March 6, 2015.
An employee walks past a sign of Noble Resources, a Noble Group subsidiary, at their premises in Singapore, on March 6, 2015.PHOTO: REUTERS

SINGAPORE - Noble Group has posted a net profit of US$40.5 million in the first quarter, down 62 per cent from US$106.6 million in the same period a year ago.

Revenue in the three months ended March 31 was US$11.39 billion, 32 per cent lower from US$16.6 billion a year ago.

First quarter earnings per share was US$0.0054, down from US$0.0154 a year earlier.

Net asset value per share was US$0.52 as at March 31, up from US$0.50 as at Dec 31.