LONDON, Dec 8 (Reuters) - Global commodities trader Trafigura posted a record net profit of about $7.4 billion for the 12 months to the end of September, up 5% from a year earlier, saying it expected more "normal", less volatile conditions ahead.

The impact of an energy price surge last year driven by supply disruption linked to Russia's invasion of Ukraine led to a surge in the profits for many companies, but makets have since eased.

The Geneva-based private company's results marked the fourth successive year of record profits, but the bulk of its profit - $5.5 billion - was in the first half of the financial year, which doubled profits compared with the 2021-2022 first half.

Its executives said in the company's annual report the company's slower performance in the second half of this year was a better indicator of the result it expects for 2024.

As supply chain disruptions eased in the second half of Trafigura's financial year, it said future conditions would be more "normalised".

"We expect to see reduced volatility in the year ahead, however, we face uncertain times," CEO Jeremy Weir said in a statement.

"Low inventories, geopolitical threats, elections in nearly two thirds of the democratic world in 2024 and brittle supply chains mean markets are fragile and vulnerable to spikes driven by sudden changes in supply and demand."

https://www.reuters.com/markets/commodities/trafigura-2023-net-profit-hits-record-74-billion-2023-12-08/