CAO’s earnings up 33% on higher trading volumes

SINGAPORE (July 28): China Aviation Oil posted a 32.8% growth in earnings to US$23.6 million ($32 million) for 2Q16, compared with the earnings of US$17.8 million in 2Q15.

For the quarter to June, revenue increased 19.8% to US$3.02 billion on the higher supply and trading volumes for jet fuel and other oil products.

Jet fuel supply and trading volumes rose 18.1% to 3.72 million tonnes, while the supply and trading of other oil products more than doubled to 5.02 million tonnes.

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