Frontline plc (FRO.L), an oil tanker shipping company, Friday reported profit before tax of $66.52 million for the fourth quarter, lower than $118.59 million in the same quarter a year ago, primarily impacted by higher expenses.
Operating income declined to $129.72 million from $138.05 million last year.
Net profit was $66.73 million or $0.30 per share, down from $118.37 million or $0.53 per share a year ago.
Excluding one-time items, adjusted profit decreased to $45.07 million or $0.20 per share from $102.15 million or $0.46 per share last year.
Revenue for the quarter, however, grew to $425.64 million from $415.00 million in the previous year. Total revenues and other operating income were $443.49 million.
The Board has declared a dividend of $0.20 per share for the fourth quarter, to be paid on or about March 31, to shareholders of record on March 14.
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