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China Aviation Oil posts 23.9% increase in 4Q earnings to $25.2 mil

Samantha Chiew
Samantha Chiew2/28/2019 07:50 PM GMT+08  • 2 min read
China Aviation Oil posts 23.9% increase in 4Q earnings to $25.2 mil
SINGAPORE (Feb 28): China Aviation Oil (CAO) has announced a 23.88% increase in its 4Q18 earnings to US$18.7 million ($25.2 million), compared to US$15.1 million in 4Q17, mainly from the reduction in operating expenses and increase in gross profit.
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SINGAPORE (Feb 28): China Aviation Oil (CAO) has announced a 23.88% increase in its 4Q18 earnings to US$18.7 million ($25.2 million), compared to US$15.1 million in 4Q17, mainly from the reduction in operating expenses and increase in gross profit.

This brings FY18 earnings to US$93.9 million, 10.52% higher than US$84.9 million in FY17.

Revenue for 4Q18 was 7.79% higher at US$4.38 billion from US$4.06 billion last year, primarily due to the increase in oil prices.

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