China Aviation Oil on track to deliver steady growth and higher dividend yields

SINGAPORE (July 28): RHB continues to rate China Aviation Oil (CAO) a “buy” with a target price of $1.90, as the group continues to show growth despite the volatility in oil prices.

In 2Q17, CAO showed an “unexciting” increase of 2% y-o-y in middle distillates sales volume growth, but the jet fuel trading and supply volumes that a under the same business segment saw a 7% growth y-o-y to 4 million tonnes.