During the half year, CAO, whose key business is the sale of jet fuel in Shanghai's airport, reported total supply and trading volume of 9.46 million tonnes, down 16.06%.
Lin Yi, CAO's CEO says the results is "commendable" given the challenging operating environment, which is expected to extend into the second half of the year.
"However, with the Chinese Government’s ongoing efforts to spur growth in international air traffic in the second half of this year, the recovery of international air passenger market in China is expected to accelerate."
"As such, the group remains cautiously optimistic on its performance for the second half of the year,” says Lin.
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CAO shares closed at 95 cents on Aug 8, up 2.72%.
