Friday, December 14, 2018

Platts Posts Lower Adjusted Operating Profit

Posted by April 26, 2018

File Image (CREDIT: AdobeStock / © Redindie)

Oil price agency Platts, a unit of S&P Global Inc, posted a 4 percent decline in first-quarter adjusted operating profit on Thursday, hurt by lower trading volumes.
 
Revenue at Platts, however, increased 3 percent to $196 million in the quarter ended March 31, helped by growth its core subscription business.
 
Revenue growth was partially offset by a decline in its Global Trading Services business as reduced volatility in key commodity products led to lower trading volumes.
 

Adjusted operating profit fell to $95 million from $98 million a year ago.

 

Reporting by Radhika Rukmangadhan  

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