×

HollyFrontier profit rises on lower tax bill

Feb 21 (Reuters) - U.S. oil refiner HollyFrontier Corp reported a rise in fourth-quarter profit on Wednesday, as the recent changes in the U.S. tax laws reduced income taxes by about $307 million.

The company's net profit attributable to shareholders rose to $521.1 million, or $2.92 per share, in the quarter ended Dec. 31, from $53.2 million, or 30 cents per share, a year earlier.

Sales and other revenue rose to $3.99 billion from $2.96 billion. (Reporting by Karan Nagarkatti in Bengaluru; Editing by Shounak Dasgupta)