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Parkland Fuels Q4 profit more than doubles to $22M; revenue up 60% at $1.6B

RED DEER, Alta. - Parkland Fuel Corp. says fourth-quarter profits more than doubled as the independent North American distributor of fuels and lubricants saw revenue rise 60 per cent. Parkland says net profits improved to $22 million or 30 cents per diluted share in the final three months of 2013, up from $9.6 million or 14 cents in the same 2012 period. Revenue totalled almost $1.6 billion, up from $998.4 million in the same year-earlier period.

Parkland Fuels Q4 profit more than doubles to $22M; revenue up 60% at $1.6B

RED DEER, Alta. - Parkland Fuel Corp. says fourth-quarter profits more than doubled as the independent North American distributor of fuels and lubricants saw revenue rise 60 per cent. Parkland says net profits improved to $22 million or 30 cents per diluted share in the final three months of 2013, up from $9.6 million or 14 cents in the same 2012 period. Revenue totalled almost $1.6 billion, up from $998.4 million in the same year-earlier period.

Lanxess chemicals says charges pushed it into red in 2013

German speciality chemicals maker Lanxess said on Wednesday it expects to publish a net loss for the whole of 2013 after writedowns in the fourth quarter. Lanxess said it is projecting a full-year net loss of 159 million euros ($219 million) following exceptional impairment charges of 257 million euros in the fourth quarter. The charges were made in anticipation of "the expected development of overcapacities, as well as raw material and energy costs" which would affect the book value of the group's elastomer business units, Lanxess explained.

Orange reports sales setback, shares fall

French telecoms group Orange, formerly France Telecom, reported a 5.5-percent fall in sales in the third quarter on Wednesday, slightly worse than expected, but contained the effect of this on underlying profit. The price of shares in the business was showing a fall of 4.37 percent to 10.19 euros, in an overall French market which was down 0.70 percent in morning trading. At brokers Global Equities, Xavier de Villepion commented: "The results are not so bad as all that," adding that the shares had fallen mainly because of profit-taking after a recent strong rise.

Austria's Verbund doubles half-year profit despite floods

Good water supply and one-time effects helped Austria's leading electricity company Verbund double its profits in the first half of the year, the company said on Wednesday. Net profit topped 448.2 million euros ($595.3 million), compared to 214.1 million euros in the same period last year, despite what Verbund called a "deterioration in the operating environment in the European energy market." That was caused partly by a drop in wholesale electricity prices.

UPDATE 1-Perform buys Dutch soccer site, profit doubles

LONDON, March 5 (Reuters) - Digital sports rights group Perform bought a Dutch soccer website on Tuesday, continuing a trend of bolt-on deals that helped the company to double annual profit in 2012. Perform said on Tuesday it was paying an initial 2 million euros ($2.6 million) for Voetbalzone.nl, with an additional payment of up to 10.5 million euros to be made depending on performance over the next three years.

Pemex posts net income of $390 mn in 2012

Mexico City, Feb 28 (EFE).- Mexican state-owned oil monopoly Petroleos Mexicanos said it posted net income of nearly 5 billion pesos (some $390 million) in 2012, a year after registering a net loss of $6.54 billion. Pemex said in a report that last year's result was primarily attributable to revenue from sales and services, which reached a record high of 1.64 trillion pesos ($128.7 billion), up 5.4 percent from 2011. Earnings before interest, taxes, depreciation and amortization, or EBITDA, rose 5.7 percent in 2012.

Gas Natural posts annual profit rise on Latin America

Spanish energy group Gas Natural posted Tuesday an 8.8-percent rise in its 2012 net proft owing mainly to higher sales in Latin America and cost-cutting measures. The company, Spain's biggest gas supplier, said its net profit last year totalled 1.441 billion euros ($1.923 billion), up from 1.325 billion euros in 2011. Net turnover rose 14.4 percent to 24.904 billion euros while earnings before interest, taxes, depreciation, and amortisation (EBITDA) -- a key measure of profitability -- rose 9.4 percent to 5.080 billion euros.
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