April 3, 2017 / 9:35 AM / 8 months ago

Vitol's 2016 profit rises 25 pct - FT

April 3 (Reuters) - World’s largest independent energy trader Vitol’s profit rose 25 percent last year, the Financial Times reported on Monday, citing people familiar with the matter.

The Swiss-based company had a net income of $2 billion in 2016, up from just over $1.6 billion in 2015, according to the FT. on.ft.com/2nvJIi3

The 2016 net income included $500 million of gains from asset sales and a $100 million tax bill, the newspaper reported.

The results are unaudited and subject to revision, according to the FT.

Vitol said last month that annual traded volumes rose 16 percent in 2016 to a new record as it sold more gasoline and diesel in markets such as the U.S. and Australia.

Vitol’s turnover, however, fell to $152 billion in 2016 from $168 billion in 2015 as a result of lower energy prices.

Vitol was not immediately available for comment. (Reporting by Arathy S Nair in Bengaluru; Editing by Sunil Nair)

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