South Korean refiner Hyundai Shell Base Oil (HSB) saw its profit margin hold steady in the first quarter of the year as sales kept pace with costs.The refiner’s operating profit margin of 8.1pc in the first three months of the year fell from 9.0pc during the final three months of 2022.A 16pc rise in costs during the same period outpaced a 15pc increase in sales.The profit margin rose from 6.3pc during the first quarter of 2022 as sales growth outpaced costs.It remained well below average levels of 17.7pc in the three years to end-2022..South Korea HSB’s Q1 profit rises
