FuelClub Discount

The airline, 75 per cent-owned by the Government, yesterday reported an annual net profit of $218 million, off 1 per cent on the 2007 year. Trading turnover rose 9.1 per cent to $4.667b.

A final 3.5c dividend increases the annual rate from 8c to 8.5c a share, excluding 2007’s special 10c dividend. The gross dividend yield of 12.686c gives a yield of 10.6 per cent, based on yesterday’s closing share price of 120, down 2c.

Chief executive Rob Fyfe said the volatility in fuel prices and uncertain economic conditions had made it difficult to accurately forecast a profit for next year. But the average cost of jet fuel would need to be below $US140 a barrel for the 2009 financial year for the airline to be profitable, he said.

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Shell made profits of $7.8bn (?3.9bn) in the first three months of the year, up from $6.9bn a year ago.

And rival BP saw its profits rise 48% to $6.588bn (?3.31bn), from $4.4bn.

In January, Anglo-Dutch firm Shell reported annual profits of $27.56bn (?13.9bn) for 2007, a record for a UK-listed company.

The quarterly results come as a strike by oil workers at the Grangemouth refinery in Scotland came to an end.
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Hungarian oil and gas group MOL Nyrt plans to open 70 MOL petrol stations in Austria by the end of this year, Zsolt Hernadi told the Austrian current affairs magazine profil in an interview.

MOL opened its first petrol station in neighbouring Austria on April 1 and Hernadi sees this number growing to ‘at least’ 100 by 2010, by purchasing and also by building new stations, according to profil.
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U.K. Coal Plc, the nation’s largest producer of the fuel, said full-year profit rose more than fivefold on record prices and a jump in the value of its property holdings.

Net income increased to 94 million pounds ($187 million), or 59.9 pence a share, from 17.5 million pounds, or 11.7 pence, a year earlier, the Doncaster, England-based company said today in a statement distributed by the Regulatory News Service. Sales dropped 3.3 percent to 328.5 million pounds.

“The world coal price has almost doubled. We have successfully moved our overall sales prices closer to the market price,” Chairman David Jones said in the statement.
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