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Reuters: Royal Dutch Shell Q1 net profit up 14 pct

Thu May 3, 2007 7:14 AM BST

LONDON, May 3 (Reuters) – Royal Dutch Shell Plc beat forecasts to report a 14 percent rise in net profit on Thursday.

Shell said in a statement its current cost of supply net profit, which strips out changes in the value of inventories, was $6.932 billion.

Excluding non-operating items which amounted to a net gain of $371 million, the result was $6.56 billion.

A Reuters poll of 13 analysts last week gave an average forecast of $5.57 billion for Shell’s first-quarter current cost of supply (CCS) net income, excluding non-operating items, down from $5.98 billion in the same period last year.

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