Reuters: Shell Q1 profits beat forecast on record oil
Tue Apr 29, 2008 6:37am BST
LONDON, April 29 (Reuters) – Royal Dutch Shell Plc (RDSa.L: Quote, Profile, Research) beat forecasts on Tuesday with a 12 percent rise in its first quarter current cost of supply net income, helped by record oil prices.
Excluding non-operating items, which amounted to a net charge of $77 million, the CCS result, which strips out the impact of changes in the value of fuel inventories, was $7.85 billion.
A Reuters poll of 11 analysts gave an average forecast of $6.84 billion for Shell’s first quarter CCS earnings, excluding non-ops.
(Reporting by Tom Bergin, Editing by Mark Potter)
© Thomson Reuters 2008 All rights reserved.
http://uk.reuters.com/article/hotStocksNews/idUKWLB063520080429
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