- Shell Grows Profit to $6bn in Q1 2019
Royal Dutch Shell Plc announced a positive first quarter for 2019, the oil giant generated a profit of $6 billion in the first three months.
The company’s profit rose 7 percent between the fourth quarter of 2018 when the company generated $5.59 billion, and the first quarter of 2019, according to the financial results released by the leading oil company. On a yearly basis, the company recorded a 2 percent surge in profit.
Cash flow from operating activities increased from $10.4 billion realised in the first quarter of 2018 to $11.3 billion in the first quarter of 2019.
Comment on the performance, Shell Chief Executive Officer, Ben van Beurden, said: “Shell has made a strong start to 2019, with the first quarter financial performance demonstrating the strength of our strategy and the quality of our portfolio of assets. the power of our brand, serving millions of customers every day, continues to be a differentiator. Our integrated value chain enabled our downstream business to deliver robust results despite challenging market conditions.”
The company paid $3.9 billion dividends to shareholders in the first quarter of the year and announced the launch of new share buyback programme with a cap of $2.75 billion from the first quarter to the end of July.