Wednesday, May 18, 2011

Esso up on 1Q earnings

KUALA LUMPUR: ESSO MALAYSIA BHD [] shares advanced on Wednesday, May 18 after the company's earnings surged 154% to RM154.82 million in the first quarter ended March 31, 2011 from RM60.94 million a year ago, boosted by inventory holding gains.

At 9.15am, Esso was up 21 sen to RM4.62 with 335,100 shares traded.

Revenue rose 30% to RM2.6 billion from RM2 billion reflecting higher average product prices and increased retail volume. Earnings per share were 57.30 sen compared with 22.60 sen.


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