Saudi oil giant Aramco reports 82% rise in quarterly profits to record $39.5bn

World's most valuable company benefits from increase in demand and higher crude prices

Saudi Aramco, the world's biggest oil company, has announced an 82% rise in quarterly profits to a new record of $39.5bn (32.2bn), boosted by an increase in demand and higher crude prices.

The company, which last week overtook technology group Apple to become the world's most valuable company, said it would pay an $18.8bn (15.3bn) dividend and hand out $4bn (3.2bn) in bonus shares to its investors after the better than expected performance.