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Business Times (Malaysia): Shell Q4 profit drops

Shell Q4 profit drops
Feb 24, 2006
SHELL Refining Co (Federation of Malaya) Bhd said its net profit for the final quarter of 2005 fell by 50 per cent due to lower refining margins and lower tax rates.
The net profit for the quarter was RM94.5 million compared to RM187.7 million a year ago.
Its revenue grew 26 per cent to RM2.75 billion from RM2.19 billion before.
Shell Refining recorded a full-year net profit of RM522.1 million on RM9.7 billion revenue for 2005, helped by an after-tax stockholding gain of RM210 million due to the overall increase in oil prices.
The firm has proposed a final dividend of 38 sen and another special dividend of 20 sen. Chairman Datuk Jon Chadwick said the company intends to declare a total dividend in the range of 90 sen to RM1.30 for this year.
He confirmed that he would be stepping down as chairman after the company's upcoming shareholder meeting.

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