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SINGAPORE : Commodities company Noble Group said its first quarter net profit jumped nearly four-fold to US$167.1 million.
All its business segments posted strong revenue growth. Noble's revenue more than doubled on year to US$9.5 billion for the three months ended March.
The company has businesses including agriculture, energy, minerals, metals and ores, as well as logistics.
Revenue from its agriculture business grew 87 percent on year to US$2.15 billion, while revenue from its energy business was up 189 percent at US$5.07 billion.
Revenue from its minerals, metals and ores business rose 85 percent to US$1.81 billion, while revenue from its logistics business increased 149 percent to US$434.1 million.
The bottomline was also boosted by a one-off gain from the sale of a stake in Consolidated Minerals, a mining company listed in Australia.
In a stock exchange filing, Chairman David Eldon said he continues to see growth in 2008, led by the increasingly positive impact of the company's strategic investments. - CNA /ls
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