Noble's Q3 profit falls 11%
By Mok Fei Fei, Channel NewsAsia | Posted: 11 November 2009 1859 hrs

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SINGAPORE : Mainboard-listed commodities player Noble Group said on Wednesday that its third quarter net profit dropped 11 per cent on-year to US$132.1 million.

The fall came as revenue dropped 11 per cent to US$8.36 billion.

Still, the firm is upbeat about its performance. Excluding one off gains, it said the reported third quarter net profit was the highest quarterly profit in its history.

For the first 9 months of the year, Noble said its net profit of US$471 million was also the highest 9-month total in its history.

The global supply chain manager of agricultural, metal and energy products said it also handled record tonnage levels for the first 9 months of the year.

It handled more than 133 million metric tons, an increase of 23 per cent over the corresponding 9-month period in 2008.

Noble said it has seen good momentum in its financial performance so far, and is confident it can continue to successfully expand its business. - CNA /ls