Written by The Edge
Noble Group (SGX: N21), the global supply chain manager of agricultural, metals, minerals and ores, and energy products, reported revenue of US$24.3 billion ($33.1 billion) for the first half year ended June 30, 2010 compared to US$13.3 billion for the first half 2009. The higher group revenue was led by the group’s Energy segment whose revenue rose to US$15.4 billion.
Noble Group says several of its bulk commodity divisions including Oil & Gas, Coal & Coke and Grain, reported record tonnage levels for the six month period. Total tonnage volume was 86.8 million tonnes.
Group gross profit rose 32% to US$647 million compared to US$491 million for the first half 2009. The Group’s gross profit margin was 2.7%.
Group net profit was US$201 million compared to US$339 million for the first half 2009. Excluding one-off gains, adjusted net profit was US$162 million compared to US$185 million for the first half 2009.
CEO Ricardo Leiman says, “We are very pleased with the continuous expansion of our business platform. In the first half 2010 we reported a 30% increase in gross profit broadly contributed by our business segments. Several investments became operational which will make a positive contribution to our future performance. Our recent successful fund raising efforts also ensure we continue to maintain a strong overall financial profile.”
Dividend : None
