Trafigura Posts Record $7 Billion Profit in Blowout Year
- Trafigura’s energy traders had ‘exceptionally strong year’
- Trader paid dividends of $1.7 billion as earnings surged
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Trafigura Group earned a record $7 billion in its last financial year, more than the previous four years combined, as the commodities trader cashed in on wild price swings and arbitrage opportunities driven by Russia’s invasion of Ukraine.
Earnings more than doubled in the 12 months through September, Trafigura said on Thursday, while revenue surged to $318.5 billion. The oil and petroleum products business had “an exceptionally strong year,” said Chief Financial Officer Christophe Salmon.