April 26, 2018 / 11:38 AM / a month ago

Oil price agency Platts posts lower adjusted operating profit

April 26 (Reuters) - Oil price agency Platts, a unit of S&P Global Inc, posted a 4 percent decline in first-quarter adjusted operating profit on Thursday, hurt by lower trading volumes.

Revenue at Platts, however, increased 3 percent to $196 million in the quarter ended March 31, helped by growth its core subscription business.

Revenue growth was partially offset by a decline in its Global Trading Services business as reduced volatility in key commodity products led to lower trading volumes.

Adjusted operating profit fell to $95 million from $98 million a year ago. (Reporting by Radhika Rukmangadhan in Bengaluru Editing by Saumyadeb Chakrabarty)

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