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Financial Times: Shell restates net income upwards

Financial Times: Shell restates net income upwards

“Royal Dutch/Shell showed yesterday that the debacle this year over proved reserves was having minimal impact on its financial performance, at least in the short term.”

By James Boxell

Jul 14, 2004

Royal Dutch/Shell showed yesterday that the debacle this year over proved reserves was having minimal impact on its financial performance, at least in the short term.

It restated net income for the first quarter of 2004 upwards by $226m (£121m) to $4.7bn. It had previously restated net income for 2003 downwards by $203m to $12.5bn. Most of the adjustments were related to technical issues of how it reports inventories.

© Copyright The Financial Times Ltd

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