Shell Reports 36% Profit Rise In 2018

Yemisi Izuora 

Oil giant Royal Dutch, Shell has reported a 36 per cent rise in 2018 profits to $21.4 billion, the highest since 2014, beating forecasts as cost savings kicked in.

For the fourth quarter of 2018, the Anglo-Dutch company’s net income attributable to  shareholders based on a current cost of supplies (CCS) and excluding identified items, rose 32 per cent on the year to $5.688 billion as deep cost cuts introduced after the 2014 market downturn filtered through.

That compared with a company-provided forecast of $5.28 billion for the quarter and $20.98 billion for the full year.

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