logo
Share SHARE
FONT-SIZE Plus   Neg

Nestle Oil Q1 IFRS Operating Profit Rises - Quick Facts

Nestle Oil Oyj (NTOIF.PK) Thursday released the Interim report for the three months ended 31 March 2012, stating that IFRS operating profit for the first quarter of 2012 increased to 188 million Euros from 171 million Euros reported for the corresponding period last year.

The company revealed that comparable operating profit for the three-month period improved to 76 million Euros from 43 million Euros reported for the first quarter of 2011.

The company attributed improved performance at renewable Fuels and supportive margins in the gasoline market as reasons for improved performance.

President & CEO Matti Lievonen said : "The strong gasoline market supported refining margins during the first quarter. Crude oil price increased, and the price differential between lighter and heavier crude oil was volatile, and widened towards the end of the quarter. As our refineries at Porvoo and Naantali operated smoothly, we were able to record a good result at Oil Products…."

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Anthony Levandowski, the head of Uber's self-driving division, is stepping away from his role as Uber continues a legal battle with Waymo, Levandowski's former employer. Levandowski, who founded startup Otto, became head of Uber's Advanced Technologies Group or ATG after Otto was acquired by Uber in August 2016. Southwest Airlines Co. has decided to end the practice of overbooking flights, the airline's CEO Gary Kelly said Thursday. The airline's plan to end overbooking could be implemented from May 8, according to a Southwest spokeswoman. Shares of Electrolux AB were gaining around 5 percent in the trading in Sweden after the home appliances giant reported higher profit and sales in its first quarter. President and CEO Jonas Samuelson said, "We will continue to drive profitable growth by creating best-in-class consumer experiences which are supported by innovation and operational excellence."
comments powered by Disqus
Follow RTT