World Fuel Services in 2015 setback

The US-based fuel giant noted a slide in revenue as well as profit in 2015, a year in which low oil prices sent fuel prices plummeting. But CFO points to potential for strategic growth in 2016.

Photo: Andreas Vallbracgt-Prachtvoll/Jyllands-Posten

World Fuel Services, which is headquartered in Miami and listed on the New York Stock Exchange - and stands as the world's largest supplier of fuel to shipping and aviation, among other sectors - saw its overall business take a dive in 2015.

The group finished the past year with a net result of USD 186.9 million, down from USD 221.7 million in 2014, while the revenue tumbled from USD 43.3 billion last year to USD 30.3 billion in 2015, according to the company's annual report, available here.

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