Sunoco's 4Q accumulation avalanche as appeal falls

PHILADELPHIA – Sunoco Inc. said its fourth-profit plummeted as it struggled with anemic appeal for activity products.

The Philadelphia refiner said Thursday it recorded net assets of $26 million, or 22 cents per share, in October through December. That compares with a accumulation of $204 million, or $1.74 per share, a year earlier.

Revenue rose 4 percent to $8.97 billion from $8.64 billion in the fourth division of 2008.

The best contempo after-effects reflect ancient assets of $57 million. Excluding those, the aggregation acquaint a net accident of $31 million, or 27 cents a share.

For the year, Sunoco appear a net accident of $329 million, or $2.81 per share. In 2008, it becoming $776 million, or $6.63 a share.

Annual acquirement fell to $31.3 billion from $51.07 billion.

The aggregation expects the bazaar for petroleum and actinic articles to abide arduous because of the anemic abridgement and balance supply.

It has anticipation 2010 basic spending of about $840 million.

Shares of Sunoco bankrupt bottomward 3 cents to $25.64 in Friday's trading.