(Sharecast News) - Commodity broker Trafigura posted net profits of $1.5bn on Thursday, but warned market turbulence was poised to continue into the second half.
The Switzerland-based trading house, which has its head office in Singapore, said group revenues in the six months to 31 March were $119.2bn, down 4% on lower average commodity prices. Net profits rose 3%.

The interim dividend for the period at the employee-owned firm was $1.5bn, up on the $650m paid out to its 1,400 staff shareholders a year previously.

All three trading divisions - oil and petroleum products; metals, minerals and bulk commodities; and gas, power and renewables - had performed robustly during "uncertain times", Trafigura said.

Looking to the second half, new chief executive Richard Holtum said: "We remain mindful of the evolving macroeconomic environment and the geopolitical dynamics that continue to influence global commodity markets."

But he insisted that Trafigura's global footprint and diversified portfolio left it well-positioned to navigate the heightened volatility.

Earlier this year, Holtum - who took over as chief executive 1 January - said he had "semi-seriously" considered changing the working hours of his Geneva-based traders to 1400 to midnight, to enable them to better react to Donald Trump's often erratic social media posts.

Chief financial officer Stephan Jansma added: "We anticipate further market turbulence in the second half.

"It is important to note that increase volatility may not necessarily translate into physical trading opportunities, as current market movements are driven more by policy-focused decisions that traditional supply demand disruptions."

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