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The annual surplus rises to a four-year high



  Royal Dutch Shell Products in Torzhok, Russia

Andrey Rudakov | Bloomberg | Getty Images

Royal Dutch Shell products in Torzhok, Russia.

Oil giant Royal Dutch Shell reported better-than-expected full-year earnings on Thursday as profound cost reductions began following the energy market's downturn in 2014. 19659005] div> div.group> p: first child "/>

Net income increased 36 percent to $ 21.4 billion in 2018, with cost savings helping the Anglo-Dutch company achieve its highest annual profit since 2014.

Shareholders' net earnings on current delivery costs (CCS) basis, used as proxies for net income and excluding identified items, were $ 5.7 billion. Compared to a company-provided analyst consensus of $ 5.28 billion for the last three months of 2018, according to Reuters.

"Shell achieved a very strong financial performance in 2018 with cash flow from operations of $ 49.6 billion (non-working capital) movements," said Royal Dutch Shell CEO Ben van Beurden in a statement released Thursday Statement.

"We will continue with a strong focus on delivery in 2019, with a disciplined approach to capital investment and both cash flow and revenue." The strategy for delivering a first-class investment case works, "he added.


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