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.

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