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
Taxi-hailing company Uber and its rival Careem has suspended their services in Abu Dhabi, the capital of the United Arab Emirates, since Saturday, reports said. Uber said the move was temporary, and did not explain the reason for suspension of services. Even after two years of thoroughly searching across the Indian Ocean, using modern technologies and devices, there is no clue about the Malaysian airline that vanished on March 8, 2014. Internet access is growing worldwide, but there is still a long way to go before the entire world is completely wired, a study from the Pew Research Center has found. The study also noted that men have greater access to the Internet than women in many nations.
comments powered by Disqus
Follow RTT