Shell posted a sales increase of $21.4 billion,a 36 percent increase compared to last year. The Dutch company managed to surpass their forecast by cutting its operational costs.This is its highest annual profits since 2014.
Royal Dutch Shell CEO Ben van Beurden said,“Shell delivered a very strong financial performance in 2018, with cash flow from operations of $49.6 billion, excluding working capital movements.”
He added,“We will continue with a strong delivery focus in 2019, with a disciplined approach to capital investment and growing both our cash flow and returns. Our strategy to deliver a world-class investment case is working.”
Net income attributable to shareholders on a current cost of supplies (CCS) basis, used as a proxy for net profit, and excluding identified items, came in at $5.7 billion. This compared to a company-provided analyst consensus of $5.28 billion for the final three months of 2018.