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CAO reports lower earnings despite higher turnover

The Edge Singapore
The Edge Singapore • 1 min read
CAO reports lower earnings despite higher turnover
CAO maintains a “cautiously optimistic outlook” for the current FY2022.
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China Aviation Oil has reported revenue of US$8.95 billion for 2HFY2021 ended Dec 2021, up 74.1% y-o-y.

However, earnings for the same period was down 50.8% y-o-y to US$16.1 million, as it suffered from lower margins.

For the whole of FY2021, earnings was down 28.2% y-o-y to US$40.35 million.

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