Esso Malaysia Bhd recorded a pre-tax profit of RM164.2 million for its fourth quarter ended Dec 31, 2010, erasing the loss of RM24.18 million recorded in the previous corresponding quarter.
Revenue rose to RM2.35 billion from RM2.25 billion achieved previously.

In a filing to Bursa Malaysia today, the company attributed its improved financial performance to stronger operating margins due to the increase in product prices outpacing the increase in crude cost.

For the year ended Dec 31, 2010, it recorded a higher pre-tax profit of RM368.45 million, compared to RM200.99 million achieved previously. Revenue rose to RM8.42 billion from the RM8.03 billion recorded in 2009.

'The outlook for the Malaysian economy in 2011 remains positive, and demand for petroleum products is expected to be robust.
'However, volatility in the crude price environment, will continue to affect the industry,' Esso Malaysia said.

The company also said it would remain focused on sustaining flawless operations, cost control and product and service quality, as well as strengthen its business position through a continued emphasis on strategic investment. -- Bernama