OW Bunker Outlook Unchanged Despite Q1 Profit Drop

 Danish ship fuel supplier OW Bunker kept its full-year outlook unchanged after reporting a 31 percent drop in first quarter pre-tax profits.

"We expect to continue to develop the business, strengthen our market position and further gain market share, and based on current market conditions and outlook, we believe we can grow volume by approximately 10 percent compared to 2013," it said in a statement.

OW Bunker reported a 30.7 percent fall in first quarter profit before tax to $14.9 million despite growth in volumes of 15 percent.

(By Ole Mikkelsen)