After the shock update effectively publicised the firm’s headline figures for the final quarter of last year, this week the City will be looking for clues as to whether Shell’s shrinking bottom line is temporary or structural.; …the new boss appears keen to make changes at the notoriously bureaucratic company.
by DOMINIC JEFF: 26 Jan 2014
OIL major Royal Dutch Shell is expected to reveal huge write-offs this week which investors hope will account for its recent profits warning.
After the shock update effectively publicised the firm’s headline figures for the final quarter of last year, this week the City will be looking for clues as to whether Shell’s shrinking bottom line is temporary or structural.
In its warning, Shell said that profits will almost halve to around $2.9 billion (£1.8bn). With previous market expectations of a $4bn haul, it will be the latest disappointment for shareholders after the firm’s earnings declined dramatically throughout 2013.