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World Fuel Services Corporation reports 70% revenue increase in 2010

Analysis

World Fuel Services Corporation reported an increase in revenue of 69.4% for 2010, and a net profit of USD146.9 million, up 25.4% from 2009. Shares in the company were up just 0.3% in trading yesterday.

Summary
  • World Fuel Services Corporation reported a significant increase in revenue of 69.4% for 2010.
  • The company's net profit also saw a notable increase of 25.4% from the previous year.
  • Shares in World Fuel Services Corporation experienced a minimal increase of just 0.3% in trading.
  • The aviation sector contributed significantly to the company's revenue growth, with a 76.1% increase in 2010.
  • Operating costs for the company increased by 17.9% for the 12 months ended December 2010.
  • Income before tax showed a moderate increase of 18.4% for the same period.

World Fuel Services Corporation consolidated financial highlights:

  • 3 months ended Dec-2010:
    • Revenue: USD5,828.8 million, +64.4% year-on-year;
      • Aviation: USD2,124.8 million, +57.1%;
    • Operating costs: USD75.1 million, +29.3%;
    • Income before tax: USD47.3 million, +9.7%;
    • Net income: USD39.4 million, +14.2%;
  • 12 months ended Dec-2010:
    • Revenue: USD19,131.1 million, +69.4%;
      • Aviation: USD7,132.7 million, +76.1%;
    • Operating costs: USD261.3 million, +17.9%;
    • Income before tax: USD177.5 million, +18.4%;
    • Net income: USD146.9 million, +25.4%.

Selected Others daily share price movements (% change): 24-Feb-2011

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