Wednesday, May 11, 2011

Shell rises after 1Q net profit surges 131%

KUALA LUMPUR: Shell Refining Company (Federation of Malaya) Bhd shares advanced in early trade on Wednesday, May 11 after it posted net profit of RM135.54 million in the first quarter ended March 31, 2011, up 131% from RM58.61 million a year ago.

At 9.05am, Shell rose 26 sen to RM11.10 with 9,200 shares traded.

Revenue increased by 29% to RM3.20 billion from RM2.48 billion while earnings per share were 45.18 sen versus 19.54 sen a year ago.

Shell Refining reported after tax stockholding gains of RM153 million for 1Q11.

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