Bloomberg News

Gunvor Group Says 2011 Profit Was $300 Million to $400 Million

July 17, 2012

Gunvor Group Ltd., a closely held energy trader, said it had a profit in 2011 of between $300 million and $400 million.

“Gunvor has every year without exception made an excellent return on equity, and continues to grow steadily and profitably,” the company said today in an e-mailed statement. Profit in 2010 was also between $300 million and $400 million, the company previously reported.

Gunvor is co-owned by Russian-Finnish billionaire Gennady Timchenko, and Torbjorn Tornqvist, its Swedish chief executive officer. Its main trading offices are in Geneva and Singapore.

To contact the reporter on this story: Giles Broom in Geneva at

To contact the editor responsible for this story: Stephen Voss at

We Almost Lost the Nasdaq

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

blog comments powered by Disqus