July 28, 2016 / 10:20 AM / 2 years ago

China Aviation Oil Q2 profit rises 32.8 pct

SINGAPORE, July 28 (Reuters) - China Aviation Oil Singapore Corp Ltd said its second-quarter net profit rose 32.8 percent, thanks to higher trading volumes on jet fuel and other oil products.

The physical jet fuel trader posted a net profit of $23.6 million for the three months ended June, up from $17.8 million a year ago. Revenue rose 19.8 percent, it said in a statement on Thursday.

The company, the sole supplier of imported jet fuel to China’s civil aviation industry, has been riding on booming demand for airline travel as the country’s increasingly affluent middle class takes to the skies. (Reporting by Fathin Ungku and Aradhana Aravindan; Editing by Gopakumar Warrier)

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