February 24, 2017 / 10:21 AM / a year ago

BRIEF-Brightoil Petroleum reports HY profit for the period HK$412 mln

Feb 24 (Reuters) - Brightoil Petroleum Holdings Ltd

* HY revenue hk$31.26 billion versus hk$21.65 billion

* HY profit for the period hk$412 million versus loss of hk$523 million

* Board does not recommend the payment of an interim dividend for the six months ended 31 december 2016

* Looking ahead to second half year of fy2017 and near future, all upstream projects will achieve considerable increase in production

* Looking ahead to second half year of fy2017, profits are expected to grow further due to oil price recovery and continued sales increase

* “Group’s six bunker barges are expected to operate with improved utilization and efficiency”

* “Looking into second half year of fy2017, average TCE of our VLCC’s is expected to rise”

* “Our e-commerce platform is expected to face challenges when they enter market” Source text for Eikon: Further company coverage:

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