HONG KONG, Feb. 22 /Xinhua-PRNewswire-FirstCall/ -- Noble Group Limited, (SGX: NOBL), a global supply chain manager of agricultural, industrial and energy products, announced increased 2006 revenues of US$13.8 B. Gross profits rose to US$492 million. The strong results reflect the Group's successful efforts in building an integrated supply chain supported by selective investments in infrastructure and resource assets.
CEO Richard Elman noted, "Since 2005 we have been realizing steady growth in focusing on building our business to create a long term, sustainable platform. In our 2006 results we can see the beginning of the success of this strategy."
Record contributions from the Energy and Agricultural segments were led by the continuing build-out of Noble's agricultural supply chain as well as further expansion in our clean fuel and ethanol merchanting activities and owned and managed coal operations. Our carbon credit origination division utilized its first mover advantage to acquire market share and a leadership position.
Our Energy segment revenues rose 34% to $ 6.2B and continue to represent Noble's largest business segment accounting for 45% of Group revenues. Gross profits were up 83% to a record US$ 258 million with broad contributions from our clean fuel, coal and coke and carbon credit businesses.
Our Agricultural segment reported 2006 revenues up 30% to more than US$ 4 B, a 30% increase over 2005 led by double-digit growth across all business divisions. Agriculture segment gross profits rose more than 70% to US$ 121 million led by our grain division, which reported a tripling in gross profits as investments in port and elevation facilities as well as our expanded crushing operations created incremental growth in tonnage and new margin opportunities.
Our Logistic segment also ended the year with an improved 2nd H 2006 performance thus beginning to regain its rightful position within the Group's portfolio. Likewise, our Metals, Minerals and Ore segment performed with stronger 2nd H results lifting the year-end gross profits comparable with 2005.
Net profits were US$ 134.5 million representing a 14.9% return on average shareholder equity. The Board of Directors has recommended a cash dividend equal to 25% of net profits, or US$ 33.4 million. As of end 2006, shareholders' equity totaled $ 957 million.
For a full set of results information including the Chairman's Statement, MD&A, powerpoint presentation and financial data, please visit:
http://www.thisisnoble.com/newnoble/newsroom/results_main_frame2007.html
About Noble Group
Noble Group Limited (SGX: NOBL) is a market leader in managing the global supply chain of agricultural, industrial and energy products. Noble diverse product lines and global presence of 84 offices in 38 countries is managed by a team of 2800 employees serving more than 4000 customers.
In 2006, Noble was named to the Forbes Fab 50 and S & P Global Challengers as well as selected by Corporate Governance Asia to the Corporate Governance Recognition Awards Class Of 2006 -- The Best in Asia. In 2005, Noble earned ratings from Moody's and Standard & Poor's and joined the benchmark Straits Times and MSCI indices in Singapore and the FTSE -- Hang Seng Index. During this period, the Group was recognized as one of BusinessWeek's Stars of Asia, FinanceAsia Best Companies and a Best Employer by Hewitt Associates. Noble also ranked #1 on The Forbes Global 2000 -- Total Return during the five-year period 2001 - 2005. In 2004, Noble Group's Board of Directors was awarded the Listed Companies (Main Board) Boards Award from The Hong Kong Institute of Directors.
For further details please contact:
Ms. Louisa Tam
Noble Group Limited
Tel: +852-2861-3511
Fax: +852-2527-0282
Email: noble@thisisnoble.com
Mr. Brad Smolar
Smolar Limited
Tel: +852-2522-0268
Fax: +852-2573-2473
Email: reputation@smolar.com
