Last 9.71 GBp
Change Today +0.01 / 0.10%
Volume 551.4K
FTO On Other Exchanges
As of 6:57 AM 01/29/15 All times are local (Market data is delayed by at least 15 minutes).

fortune oil plc (FTO) Snapshot

9.69 GBp
Previous Close
9.70 GBp
Day High
9.71 GBp
Day Low
9.69 GBp
52 Week High
04/22/14 - 14.50 GBp
52 Week Low
11/28/14 - 6.25 GBp
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fortune oil plc (FTO) Details

Fortune Oil PLC, an independent energy company, develops and operates oil and gas supply, and infrastructure projects in China. It operates an offshore crude oil import terminal, refined products jetty and storage terminal, and aviation refueling stations; and trades in oil and petrochemical products, liquefied petroleum gas (LPG), and liquefied natural gas (LNG). The company also engages in the exploration, production, distribution, and supply of natural gas and LPG to residential, industrial, and commercial customers, as well as to natural gas vehicles. Further, it invests in retail petrol stations in Beijing. Fortune Oil PLC is headquartered in Wanchai, Hong Kong.

68 Employees
Last Reported Date: 07/24/14

fortune oil plc (FTO) Top Compensated Officers

Acting Chief Executive and Executive Director
Total Annual Compensation: 60.0K GBP
Executive Director and Member of Executive Co...
Total Annual Compensation: 323.0K GBP
Executive Vice Chairman and Member of Executi...
Total Annual Compensation: 53.0K GBP
Compensation as of Fiscal Year 2014.

fortune oil plc (FTO) Key Developments

Fortune Oil plc Reports Unaudited Consolidated Earnings Results for the Six Months Ended September 30, 2014

Fortune Oil plc reported unaudited consolidated earnings results for the six months ended September 30, 2014. For the period, group revenue was £162,614,000 against £149,267,000 a year ago. Profit from operations was £13,120,000 against £110,020,000 a year ago. Profit before tax was £9,730,000 against £228,378,000 a year ago. Profit for the period attributable to owners of the parent was £8,918,000 or 0.35 pence per diluted share against £223,183,000 or 11.62 pence per diluted share a year ago. Net cash used in operating activates was £1,659,000 against £2,841,000 a year ago. Payment for property, plant and equipment was £172,000 against £3,519,000 a year ago.

Fortune Oil plc to Amend Articles of Association

Fortune Oil plc at its Annual General Meeting to be held September 26, 2014, is to change to Article 140 of the Articles of Association to reduce the period after which unclaimed dividends become forfeited from 12 years to six years, in line with the statutory period for limitation of claims under contract, has been included to reduce the administrative burden of record keeping and expense created by the previous extended period. Following the change, any shareholder who was entitled to but for any reason did not receive or cash a cheque for a dividend may simply by writing to either the Company or its registrar give notice, at any time for up to six years following the date on which the relevant dividend became due and payable, of their right to receive that dividend, in which case a new cheque or transfer will be issued or made in respect of such unclaimed dividend. In connection with this, the new Article 140A contains standard wording permitting the Company to invest or otherwise make use of any unclaimed dividend payments until they become claimed by the relevant shareholders.

Fortune Oil plc Announces Interim Management Statement for the Period from 31 March 2014 to 15 August 2014

Fortune Oil plc announced Interim Management Statement for the period from 31 March 2014 to 15 August 2014. The company reported the Oil business continues its good performance and continue to expand supply of crude oil, oil-based products and jet fuel. Bluesky jet fuel sales in first quarter of fiscal year 2015 were 888,900 tonnes, representing an increase of 11.6% over the same period in 2013 (796,700 tonnes), underpinned by the continued strong demand for domestic air travel in China. Passenger numbers through the Bluesky airports increased 20.7% in first quarter of fiscal year 2015 to 33.66 million compared to the same period in 2013 (27.89 million). Maoming SPM sales volumes in first quarter of fiscal year 2015 were 2,861,400 tonnes. In first quarter of fiscal year 2015 18 vessels delivered crude oil to the SPM compared to 17 vessels in the previous three month period. In first quarter of fiscal year 2015 West Zhuhai Terminal's volume throughput decreased by 34.0% to 439,200 tonnes compared to the same period in 2013 (665,400 tonnes) due to decreased throughput utilisation by PetroChina. Fortune Oil is using its influence through the board of directors to try to increase the utilisation of the terminal by PetroChina. The trading business continues to focus on the supply and trading of oil and petrochemical products. In first quarter of 2014/15, the total quantity traded of base oils and petrochemicals was approximately 92,400 tonnes compared to 50,700 tonnes for the same period in 2013.


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