Shell sees net profit rise

Shell: the Anglo-Dutch supermajor posted a 3% rise in net profit despite a dip in revenues

Anglo-Dutch supermajor Shell posted a rise in third quarter profits as lower expenses helped offset a fall in revenue.

The company’s net income for the three months to 30 September was over $7.2 billion, up 3% on the $7 billion booked during the third quarter of 2011.

The rise in profits came despite revenues sliding more than 8% year-on-year to $115.4 billion, compared to nearly $126 billion a year ago.

Lower expenses during the quarter however meant the company’s income before tax totaled $12.6 billion, up 1% on the $12.5 billion booked during the third quarter last year.

Shell’s net result then benefitted further with a lower tax expense, paying $5.5 billion for…

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