China Aviation Oil (Singapore) shares fell 4.57% during Thursday's intraday session, pressured by a weaker-than-expected half-year financial performance.
The company reported a 17.3% decline in first-half net profit to US$41.39 million, while revenue slipped 8.82% to US$7.81 billion. Earnings per share also dropped 17.87% to 4.78 US cents. Management flagged concerns over Middle East conflict escalation, oil-price volatility, and supply-chain disruptions as ongoing headwinds, though it noted opportunities from sustainable aviation fuel uptake and China's travel recovery.
On the positive side, share of results from associates surged 67.3% to US$45.91 million, driven by a higher contribution from Shanghai Pudong International Airport Aviation Fuel Supply, and net asset value per share edged up 1.13% to 126.69 US cents, with the group remaining debt-free.