P.M. BRIEFING : Royal Dutch Profits Down 39.7%
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NEW YORK — The Royal Dutch/Shell Group of Companies reported today that first-quarter earnings dropped 39.7% from a year ago as a result of sharply lower chemical profits, currency exchange losses and U.S. manufacturing losses.
Earnings for the first three months were $1.355 billion, compared with $2.242 billion in the first quarter of 1989.
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