KUALA LUMPUR, May 16 - Esso Malaysia Berhad today announced the Company's first quarter results for the year ended March 31, 2011 as follows:

The Company recorded an after tax profit of RM155 million in the first quarter, compared to RM61 million profit recorded in the same period last year. The improvement in current quarter's results was driven mainly by inventory holding gains caused by the significant increase in crude and product prices.

Revenues for the quarter were RM2.6 billion, higher compared to the RM2.0 billion recorded in the first quarter of 2010 reflecting higher average product prices and increased retail volume. 

Business conditions remain challenging in light of the uncertainty in the crude price environment.  Recognising the potential earnings volatility, the Company will continue to focus on sustaining flawless operations, cost control and product and service quality, while sustaining our competitive position.