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Business Times (Malaysia): 77pc jump in Shell Refining’s Q2 net profit

August 18 2006

SHELL Refining Company (Federation of Malaya) Bhd said its second quarter net profit jumped 77 per cent, helped by helped by higher sales and stockholding gains.
Refining margins are expected to remain at a satisfactory level in the third quarter this year, it said in a statement to Bursa Malaysia yesterday.

“Financial results are very satisfactory. This is the twelfth successive quarter in which the company has posted a strong profit, despite volatile refining margins,” Shell Refining chairman Saw Choo Boon said in a statement.

It has also declared a special interim dividend of 20 sen per unit, payable on September 29, 2006, to shareholders.

Net profit for the quarter to June 30 surged to RM146 million from RM82.4 million in the same quarter a year ago.

In that quarter, there was also an after-tax shareholding gain of RM79 million, compared with a gain of RM39 million in the second quarter of 2005.

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