June 8, 2015 / 6:22 AM / 2 years ago

Trafigura says H1 net profit up 39 pct to record high

SINGAPORE, June 8 (Reuters) - Swiss trading house Trafigura said its first-half net profit jumped 39 percent to a record $654 million, boosted by sharp growth in earnings from its oil and metals businesses.

Trafigura said on Monday gross profit at its oil and petroleum products division rose 77 percent from a year earlier to $1.01 billion, while gross profit at its metals and minerals division increased 31 percent to $509 million.

But the company said lower commodity prices cut group revenue by 24 percent to $48.24 billion.

"This is a very strong result, reflecting an excellent trading performance in the relatively favourable conditions prevailing in global oil and refined product markets, and profitable growth in both trading divisions," Trafigura Chief Executive Jeremy Weir said in a statement. (Reporting by Manolo Serapio Jr.; Editing by Gopakumar Warrier)

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