Stronger finances deliver Trafigura trading windfall
The Singapore-headquartered trader is able to do more, and boost profit, due to enhanced access to credit
Trafigura saw profits jump by 54pc year-on-year, to $4.275bn, in the first half of its October 2020-September 2021 financial year, driven by higher earnings from its trading divisions. And it was able to trade more due to having greater access to credit.
Revenue also rose, by 18.6pc compared with the first half of Trafigura’s 2020 fiscal year, to just shy of $98.4bn. And gross margin rose to 4.3pc, from 3.8pc in H1 2020.
The improved performance “is mainly due to the performance of our trading divisions, which have shown higher trading volumes, higher margins and significantly higher gross profit,” says the firm’s CFO, Christophe Salmon.
“The oil and petroleum products divis
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