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Shell’s 3Q profits plunge from year-ago levels

ï‚· Royal Dutch Shell’s third quarter 2009 earnings, on a current cost of supplies (CCS) basis, were $3.0 billion compared to $10.9 billion a year ago. Basic CCS earnings per share decreased by 72% versus the same quarter a year ago.

ï‚· Cash flow from operating activities for the third quarter 2009 was $7.3 billion, and excluding net working capital movements, was $7.7 billion.

ï‚· Net capital investment for the quarter was $7.4 billion. Total dividends paid to shareholders during the third quarter 2009 were $2.7 billion.

ï‚· Gearing at the end of the third quarter 2009 was 13.7%.
ï‚· A third quarter 2009 dividend has been announced of $0.42 per share, an increase of 5% over the US dollar dividend per share for the same period in 2008.

Royal Dutch Shell Chief Executive Officer Peter Voser commented, “Our third quarter results were affected by the weak global economy.

Upstream and Downstream profitability has been sharply reduced compared to year-ago levels. We see some indications that energy demand and pricing are improving, but the outlook remains very uncertain, and we are not expecting a quick recovery. Despite Shell’s good operating performance in this difficult environment, we have embarked on an ambitious program of stringent measures to further improve our performance.”


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