Chemoil profit up to US$7.7m

Revenue increased to US$3.4billion in the third quarter.

SGX mainboard-listed Chemoil announced that it has recorded profit after tax attributable to equity holders of US$7.7 million for the third quarter of 2012, up from US$2.5 million for 3Q2011.

The company said revenue increased 26% from last year as the company continued its business growth particularly with increases in the volume of marine fuel sold.

Volume increase was 27% reaching a total of 5.2 million tons. Gross contribution per metric ton, the company’s key margin indicator, was at US$8.1 per metric ton during 3Q2012 compared with US$8.2 for 3Q2011.

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