Royal Dutch Shell profits slip

<p>Shell’s profits have taken a tumble, but its share price is holding its ground in London.</p>

Royal Dutch Shell has seen its profits take a tumble over the past three months, but the company has held its ground on the London Stock Exchange.

The fuel giant announced profits of $6.12 billion (£4.5 billion) for the past three months, which is down from $7.2 billion for the same period last year.

Sales slumped by 8.9 per cent to $112 billion reflecting the global economic downturn and lower demand for petrol and diesel, while the Anglo-Dutch business also claimed falling oil and gas prices are to blame for this slip.

Excluding one-offs such as tax changes, Shell's third-quarter profits were $6.6 billion, which is six per cent lower year-on-year.

Chief executive Peter Voser commented: "Shell is driving a long-term and consistent strategy against a backdrop of volatile energy markets."

At 10:10 GMT today (November 1st), Shell shares appreciated by 0.6 per cent on the London Stock Exchange to 2139.50 per share.

Find the latest spread betting strategies for the FTSE 100 at City Index.

Join our live webinars for the latest analysis and trading ideas. Register now

GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.