Daily Management Review

Shell's profit grew to $ 1.9 billion in Q2


07/27/2017


Anglo-Dutch oil company Royal Dutch Shell PLC said on Thursday that its net profit in the second quarter increased to $ 1.9 billion.



Coolcaesar
Coolcaesar
Shell explained the jump in profits by a sharp increase in the amount of cash, which indicates that the company continues to adapt to lower oil prices.

The quarterly profit of the Anglo-Dutch oil giant at the current cost of supply - a figure similar to the net profit reported by US oil companies - rose to $ 1.9 billion compared to $ 239 million in the same period last year.

Revenue increased amid the fragile recovery in oil prices, although impairment, associated with the liquidation of some of the divisions, weakened the overall profit.

Cash flow from operations - a key indicator for investors and analysts who are worried about dividends, as oil prices began to decline in 2014 - soared to $ 11.3 billion.

Shell said that over the past 12 months, the company received $ 38 billion in cash from its business, which is enough to cover dividend payments and reduce debt.

The company said it intends to maintain strict discipline in respect of capital in the future, as the forecast of oil prices remains volatile.

source: reuters.com






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