Brightoil Petroleum (HKG:0933) says that it expects a year-on-year increase in consolidated net profit attributable to shareholders for the six months ended 31 December 2011.

The profit increase was mainly attributable to significant increase in revenue generated from marine bunker supply and sales of petroleum products. The group recorded significant increase in the sales volume and revenue for the six months ended 31 December 2011. There was also an increase in fair value of derivative financial instruments for the hedging of physical inventory price risk as opposed to a decrease recorded for the six months ended 31 December 2010.

Meanwhile, the operating costs and finance costs for marine bunker supply and sales of petroleum products related to the continued expansion of the group's global sales network have also increased.