Platts Posts Lower Adjusted Operating Profit
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
