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Berkshire net profit surges 31pc

Washington, March 2, 2014

Warren Buffett's conglomerate Berkshire Hathaway posted a record profit in 2013, jumping 31 per cent over the previous year, the company said in its annual report.

Profit for the full year rose to $19.5 billion from $14.8 billion in 2012.

Net income rose to $4.99 billion in the fourth quarter, or $3,035 per Class A share, from $4.55 billion, or $2,757 per share, a year earlier.

Quarterly operating profit advanced to $3.78 billion, or $2,297 per share, from $2.81 billion, or $1,704 per share in the year-earlier quarter.

Book value per share at the end of 2013 rose 18.2 per cent from the end of 2012, to reach $134,973.-Reuters




Tags: Warren Buffett | Berkshire Hathaway |

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