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Noble Group Goes 40% Up in Operating Profit

Noble Group Goes 40% Up in Operating ProfitHong Kong based Noble group reserves a prestigious place for efficiently managing the global supply chains of agricultural and energy products, metals and minerals. The company has reported a 40% hike in operating profit to US$947 million (£580m) for the first half of 2011.

Further, the first half sales were observed to record $40bn (£24.5bn).

“We are delighted that we are able to report record first half revenue, volume and operating income in a difficult and volatile business environment. Our new businesses and acquisitions are starting to illustrate their longer term potential, broadening and deepening the Group’s capabilities”, notified Chief Executive Ricardo Leiman.

The Noble has offices in more than 40 countries and its pipelines cover a range of products from coal, coffee and carbon credits to soybeans including sugar and steel.

Earlier in 2010, the company credited turn over US$56.7bn (£34.75bn) whereas its energy section alone attributed around 65% of sales.

In addition, agriculture, metals, minerals & ores, logistics have contributed 21%, 12% and 2% respectively.

On Thursday, the group reported around 63% gain during the second quarter net profit to US$139.8 million (S$170 million) as compared to US$85.9 million a year ago.

Simultaneously, revenue for the three months ended June 30 also found to be increased by 52% to US$19.7 billion.