A change in inventory accounting principles helped Royal Dutch/Shell Group increase net income in the first quarter by $226 million to $4.7 billion, up from the previously reported $4.43 billion. The oil major last week also updated its quarterly production figures to give investors “further clarity” ahead of its second quarter results, which will be announced July 29.
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Shell Revises 1Q Income Upward by $226M
Royal Dutch/Shell Group said a change in inventory accounting principles increased net income in the first quarter by $226 million to $4.7 billion. It had previously reported net income of $4.43 billion. Shell also updated its quarterly production figures, and said it was publishing the information to give investors “further clarity.” The second quarter results are scheduled to be announced July 29.
July 14, 2004
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