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02/08/2001
Shell posts record $7.4 bn profit for first half of year
Royal Dutch/Shell has announced record £7.4 billion (£5.2 billion) profits for the first half of the year, the figures revealing a jump in profits of 15 per cent on last year’s results.
The company’s profits for the period were boosted by brighter gas results that powered second quarter earnings for the Royal Dutch/Shell Group of Companies to another record. Chairman of the Committee of Managing Directors of the Royal Dutch/Shell Group of Companies Philip Watts revealed that earnings for the second quarter up 12 per cent to $3.5 billion.
Mr Watts said: “Gas is plainly the fuel of the future and we are well placed to be part of that future with gas production up 11 per cent versus last year.”
Shell, developing Saudia Arabia’s natural gas industry and playing a major role in the Sakhalin project in the Far East, are also developing new markets for liquefied natural gas (LNG), which was a “key part” of the company’s growing gas and power business which had a record quarter.
He also reported a “vintage quarter” for discoveries, including a significant deepwater oil find near to the Bonga field off Nigeria. While Royal Dutch/Shell’s earnings from exploration and production remained steady at over $2 billion for the quarter, earnings from chemicals, as a result of “very tough trading conditions,” were halved.
Shell also posted the company’s highest ever quarterly profits from oil products, with particularly strong results in the southern hemisphere and North America. These were attributed to more efficient use of refinery capacity, lower costs, and to “better margins”.
However, the company’s record profit figures are expected to ignite yet further controversy on profit taking by major fossil fuel supply companies.
Despite reporting record second-quarter earnings shares in Shell fell by 3 per cent, pulling down BP shares in the process. (SP)
The company’s profits for the period were boosted by brighter gas results that powered second quarter earnings for the Royal Dutch/Shell Group of Companies to another record. Chairman of the Committee of Managing Directors of the Royal Dutch/Shell Group of Companies Philip Watts revealed that earnings for the second quarter up 12 per cent to $3.5 billion.
Mr Watts said: “Gas is plainly the fuel of the future and we are well placed to be part of that future with gas production up 11 per cent versus last year.”
Shell, developing Saudia Arabia’s natural gas industry and playing a major role in the Sakhalin project in the Far East, are also developing new markets for liquefied natural gas (LNG), which was a “key part” of the company’s growing gas and power business which had a record quarter.
He also reported a “vintage quarter” for discoveries, including a significant deepwater oil find near to the Bonga field off Nigeria. While Royal Dutch/Shell’s earnings from exploration and production remained steady at over $2 billion for the quarter, earnings from chemicals, as a result of “very tough trading conditions,” were halved.
Shell also posted the company’s highest ever quarterly profits from oil products, with particularly strong results in the southern hemisphere and North America. These were attributed to more efficient use of refinery capacity, lower costs, and to “better margins”.
However, the company’s record profit figures are expected to ignite yet further controversy on profit taking by major fossil fuel supply companies.
Despite reporting record second-quarter earnings shares in Shell fell by 3 per cent, pulling down BP shares in the process. (SP)
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03 February 2005
Shell reports massive $18 billion profit
Anglo-Dutch oil group, Shell, have announced record net profits of over $18 billion for the year 2004, representing a massive increase of 48% since 2003. The massive profits have been attributed to the rise of crude oil prices. Prices rose steadily during the first three quarters of 2004, peaking in the last quarter.
Shell reports massive $18 billion profit
Anglo-Dutch oil group, Shell, have announced record net profits of over $18 billion for the year 2004, representing a massive increase of 48% since 2003. The massive profits have been attributed to the rise of crude oil prices. Prices rose steadily during the first three quarters of 2004, peaking in the last quarter.
28 January 2002
Profit warnings rise to all-time high
A record number of UK companies issued profit warnings in 2001, according to new research from accountancy firm, Ernst & Young. The fourth quarter saw 49 firms issuing profit warnings, an increase of 10 per cent on the previous three-month period, and representing a record high for any year since records began.
Profit warnings rise to all-time high
A record number of UK companies issued profit warnings in 2001, according to new research from accountancy firm, Ernst & Young. The fourth quarter saw 49 firms issuing profit warnings, an increase of 10 per cent on the previous three-month period, and representing a record high for any year since records began.
13 November 2002
Pre-tax profit hike for Viridian Group
The Viridian Group has reported a £3.1 million increase in pre-tax half-year profits. The figures, released on Tuesday, revealed that for the six months up to the end of September, the company posted a pre-tax profit hike of £29.8 million compared to £26.7 million for the same period last year. While turnover increased from £305.3 million to £331.
Pre-tax profit hike for Viridian Group
The Viridian Group has reported a £3.1 million increase in pre-tax half-year profits. The figures, released on Tuesday, revealed that for the six months up to the end of September, the company posted a pre-tax profit hike of £29.8 million compared to £26.7 million for the same period last year. While turnover increased from £305.3 million to £331.
08 April 2002
IBM issue profit warning for the first time in a decade
IBM has shocked financial markets worldwide by issuing a profit warning for the first three months of 2002. The company said its first quarter revenue would fall 35 per cent to about $18.5 billion from $21 billion a year ago.
IBM issue profit warning for the first time in a decade
IBM has shocked financial markets worldwide by issuing a profit warning for the first three months of 2002. The company said its first quarter revenue would fall 35 per cent to about $18.5 billion from $21 billion a year ago.
16 January 2002
Intel reports profit loss for fourth quarter
Semiconductor manufacturer Intel has reported plummeting profits, which could see the company cut capital investment by almost 25 per cent during the coming year. Fourth quarter results from the firm saw profits down by 77 per cent on the same time last year, standing at $504m.
Intel reports profit loss for fourth quarter
Semiconductor manufacturer Intel has reported plummeting profits, which could see the company cut capital investment by almost 25 per cent during the coming year. Fourth quarter results from the firm saw profits down by 77 per cent on the same time last year, standing at $504m.
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