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Royal Dutch Shell sees ‘robust’ profits rise

Screen Shot 2014-02-10 at 16.29.29BBC News article published 31 July 2014

Oil giant Royal Dutch Shell has described its performance as “robust” after its second-quarter profits more than doubled.

Shell said profits for the period rose to $5.15bn (£3bn) from $2.39bn a year earlier.

Stripping out the impact of one-off charges, underlying profits were still 33% higher at $6.13bn.

Chief executive Ben van Beurden hailed the company’s “recent improved performance”.

The results come in sharp contrast to Shell’s performance in the first three months of the year, when it reported a 44% drop in profits after writing down the value of refineries in Asia and Europe.

In the first quarter, profits fell to $4.47bn (£2.7bn) from $7.95bn a year earlier, although underlying profits fell just 3% to $7.33bn.

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