Noble Group Q4 Net Profit Declines 57%

Noble Group Ltd

reported a 57% drop in its fourth-quarter net profit. Noble Group's quarterly net profit declined to US$105.7 million, versus US$247.4 million, in the year-ago period. Its revenue climbed 15% to US$20.13 billion from US$17.44 billion. For the full year, Noble Group's net profit declined 29% to US$431.3 million from US$605.6 million in 2010. Noble Group shares closed at $21.69 yesterday.