Americas News
WFS: Quarterly Profits Flat
Friday July 27, 2018
Marine fuel broker and trader World Fuel Services (WFS) recorded steady profits in its second quarter results.
Profit was clipped by $1 million compared to the second quarter a year ago coming in at $29 million compared to $30 million. The first half year profit was similarly down from $61 million to $60 million over the period.
Revenue was up over the quarter from $8 billion in 2017 to $10.1 billion in 2018.
"The company’s marine segment generated gross profit of $30.2 million, a decrease of 8% year-over-year, primarily due to exiting low return activities," the company said in a statement.
Overall, the company put in a good performance supported by recent cost cutting, the statement said.
