Published:
Noble's profit crashed a whopping 70% to US$22.9m
But they say there's a catch.
According to OCBC, Noble Group (Noble) reported its 3Q13 results last evening, with revenue rising 13% YoY to US$25,595m, buoyed by revenue growth from all three business segments.
Although reported net profit slipped 70% to US$22.9m, Noble noted that core earnings would have come in around US$113.0m if the non-cash charge of US$103m from its share of Yancoal's loss was excluded.
"9M13 revenue of US$73,524m met 74% of our full-year forecast; core earnings of US$194.1m would have met around 64% of our FY13 estimate," OCBC said.
Read Here
Advertise
Sign Up
