FTO.L Share News (FTO)

Fortune Oil, the China-focused oil and gas supplier, saw its business sales volume increase 82.2% in the first quarter of 2015, the company said on Friday.The group said its overall business performance was in line with expectations and the board remained optimistic about its prospects, despite the Chinese government's plans to accept a slower economic growth.The 7.5% growth the company recorded in the second quarter of 2014 is in line with the government target of 7%, Fortune confirmed."The board believes that the slowing of economic growth will not materially impact the continuing growth in vehicle ownership and air travel, which continues to drive up demand for transport and aviation fuels," Fortune said in a statement.The London-listed company said the oil business remained productive and the group continued its expansion of supplies of crude oil, oil-based products and jet fuel.Bluesky jet fuel sales volumes increased 11.6% year-on-year to 888,900 tonnes, courtesy of a strong demand for domestic flights in China, while the number of passengers through the Bluesky airports rose to 33.66m in the first quarter of 2015, a 20.7% increase from the same period in 2013.Fortune shares were down 0.93% to 9.59p at 12:15 on Friday.DC