The upheaval in commodity markets, and especially in energy markets, that started in the summer of 2014 has offered the Trafigura Group exceptional opportunities to demonstrate its relevance as a service provider in global trade.
In so doing, the Group performed strongly in the first half of its 2015 financial year, delivering profitable growth in both main trading divisions and continuing to invest in infrastructure and logistical assets that will support the long-term development of our trading business.
These results depict a company that is resilient and well positioned to benefit from the current dynamic trading environment. They also show that the succession plan we announced just over a year ago, with Jeremy Weir appointed CEO and myself moving to the role of Executive Chairman, is working well. I look forward to reporting on the continuation of these trends for the full financial year.
Statement from Jeremy Weir, Chief Executive Officer
Trafigura’s trading strength and investments in infrastructure continue to yield profitable growth. The company delivered record results for the six-month period ended 31 March 2015.
The first half of our 2015 financial year marked a further advance in the Trafigura Group’s trading and financial performance. This resulted from favourable trading conditions, especially in the oil complex, and successful execution of our strategy focused on trading and logistics.
Financial Review from Pierre Lorinet, Chief Financial Officer
As well as benefiting from a positive market environment, the Group is delivering improved operational efficiency.
The Trafigura Group delivered a very strong financial performance in the first half of the 2015 financial year, with net profit of USD654 million for the six-month period ended 31 March 2015, an increase of 39 percent over the figure of USD470 million recorded in the same period a year ago.