Yahoo! News: Malaysia's Shell Refining 3Q Net At Record-High MYR185M: "For the third consecutive quarter, we have delivered record profitability," Chairman Jon Chadwick said in a press statement. (ShellNews.net) Posted 23 Nov 04
KUALA LUMPUR (Dow Jones)--Malaysia's Shell Refining Co. (4324.KU) Monday said third-quarter net profit reached an all-time high of MYR185 million, more than double the MYR86 million it posted a year earlier.
"For the third consecutive quarter, we have delivered record profitability," Chairman Jon Chadwick said in a press statement.
Third-quarter net profit was up 5.7% from the second quarter's MYR175 million. The improved earnings prompted Shell to recommend a special interim dividend - the second for this year - of 10 sen per nominal MYR1.00 share.
Chadwick attributed the gains to higher profit margins at its refining business, stockholding gains and an overall improvement in operations.
Shell Refining processed 10.72 million barrels of crude oil and feedstock, and sold 10.95 million barrels of product during the third quarter, the company said in the statement. It didn't specify the types of products sold.