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
Netflix offers a bunch of popular movies, Netflix originals, new TV shows, and documentaries in the month of December 2016, including the second season of the hit sitcom 'Fuller House' and 2016 blockbuster 'Captain America: Civil War', as all are getting ready for the holidays. SpaceX, the space transport company of Tech entrepreneur Elon Musk, is likely to launch its first Falcon 9 rocket since September's launchpad explosion on December 16. SpaceX's satellite launch customer Iridium Communications Inc. announced Thursday that its next-generation global satellite constellation, Iridium NEXT, will be launched on SpaceX's Falcon 9 rocket. Bank holding company Wells Fargo & Co., amid struggles to re-establish itself after the fake-account scandal, on Thursday said it has separated the roles of the Chairman and Chief Executive Officer formally, by amending the company's By-Laws. The amendment is also for the Chairman and Vice Chairman of the Board to be independent directors. The amendments were effective immediately.
comments powered by Disqus
Follow RTT