Privately-owned bunker supplier Brightoil Petroleum is expected to record an increase in its net profit for the year ended 30 June 2011.
The Hong Kong-listed firm said the positive profit alert announced on Wednesday was mainly attributable to “significant increase in the revenue generated from provision of duty-free marine bunkering services and sales of petroleum products.”
The operating costs, however, have increased at the same time as the company is building up a global sales network.
Brightoil is expected to announce its results on or before 30 September 2011.
In 2010, Brightoil recorded net profit of HK1.14bn ($146.27m) and revenue of HK$13.63bn.
The Hong Kong-listed firm said the positive profit alert announced on Wednesday was mainly attributable to “significant increase in the revenue generated from provision of duty-free marine bunkering services and sales of petroleum products.”
The operating costs, however, have increased at the same time as the company is building up a global sales network.
Brightoil is expected to announce its results on or before 30 September 2011.
In 2010, Brightoil recorded net profit of HK1.14bn ($146.27m) and revenue of HK$13.63bn.