Mobil profits up 58 percent
NZPA-Reuter New York Mobil, the second largest United States oil company, reported today 1985 fourth-quarter profits of SUS42SM, up 50 per cent from the same period of 1984. Mobil attributed the gain to increased earnings from its oil operations, substantially higher income from its chemical operations, and the sale of a printing company.
For all of 1985, earnings dropped to SUSI.O4B from 5U51.278 in 1984. The 1985 results included a &USSOBM provision for the restructuring of Mobil’s Montgomery Ward department store chain. The company said healthier refining and marketing results were partly offset by lower earnings from exploration and production because of reduced natural gas demand
in West Germany and the Netherlands. Lower crude oil costs coupled with higher prices for petroleum products and higher petrol sales contributed to the improvement. Sales in the fourth quarter totalled $U516.38, up slightly from SUSI6.IBa year earlier. For the year, sales were $U560.48, down marginally from $U560.58 in 1984.
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Press, 29 January 1986, Page 34
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161Mobil profits up 58 percent Press, 29 January 1986, Page 34
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