0839 GMT - China Aviation Oil (Singapore) could post a modest net profit growth this year on higher costs and likely flat associate contributions, CGS International analysts write in a note. The brokerage forecasts the company's 2026 net profit to expand 4% to US$115 million. China Aviation Oil reported a 42% jump in 2025 net profit. The jet-fuel trader is likely to maintain an expansion in gross margin, though could be offset by rising procurement and freight costs. Associate contributions is expected to remain flat, as higher inventory capacity may be offset by weaker refueling volumes if oil prices remain high throughout the year. CGSI maintains an add rating on the stock, but raises the target price to S$2.68 from S$2.63. Shares are 3.7% lower at S$2.08. (amanda.lee@wsj.com)
(END) Dow Jones Newswires
March 24, 2026 04:39 ET (08:39 GMT)
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