Seeking Alpha

Andatee China Marine Fuel's switch to wholesale pays off in Q2 results

Andatee China Marine Fuel Services (NASDAQ:AMCF) rallied 54% today after the Chinese supplier of blended fuel oil for cargo and fishing vessels reported Q2 revenue that more than doubled Y/Y to $175M.

Net income grew to $2.9M, or $0.28/share, reversing a $79K net loss during the same quarter last year.

AMCF attributed the improved results to its decision to switch from retail fuel oil sales to focus on sales to large wholesalers in extended geographic markets, such as in Shanghai and Zhejiang provinces.

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