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Showa Shell Sekiyu K.K. chalked up a consolidated net profit of 18.67 billion yen in the business year that ended in December, up sharply from the previous year’s 2.61 billion yen.

Despite overall weak demand for fuel products, higher crude oil prices and increased price-cutting competition, Showa Shell posted the profit gain due in part to favorable changes in its product lineup and the effect of inventory evaluation, the major oil distributor said Tuesday.

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