Aug 11, 2010

Chemoil's Q2 net profit falls 74% on margin pressures

By ANGELA TAN

Chemoil Energy Limited reported on Wednesday that its net profit for the second quarter of 2010 fell 74 per cent from a year ago to US$3.24 million as the marine fuel supplier continues to face pressures on its wholesale retail margin spreads in key markets..

Revenue for the second quarter was up 43 per cent from a year ago at US$1.86 billion.

Dividend : None