On February 26, 2009, Hong Kong-based Noble Group, a global supply chain manager of agricultural, metals, minerals and ores, and energy products, announced its record financial results for the fiscal year 2008.
Accordingly, the group registered $36.1 billion revenues for the fiscal year 2008, up 54 percent compared to the previous fiscal year, while the gross profit of the group increased to $1.3 billion, and the net profit to $577 million, respectively up 64 percent and 124 percent, compared to the fiscal year 2007.
Group tonnage volume rose to a record 141.5 million mt, showing a 10 percent year-on-year increase compared to fiscal year 2007, led by solid increases in the group's bulk commodity divisions (iron ore, coal and coke, and grain) as well as from its clean fuels division.
Noble Group's chairman David Eldon commented, "Noble's successful 2008 results highlight the company's ability to generate strong earnings despite volatility in commodity markets, and, indeed, throughout financial markets. We have long held Noble's strategy will position the company to build a long-term sustainable business focused on high growth markets, business diversification and selective capital spending. Noble, like other companies, will no doubt be affected by the impact of the global economic environment, but we are confident that we have the breadth of businesses, management leadership and know-how, and prudent capital management to potentially emerge a stronger company."