Geneva: Puma Energy Group Pte, the fuel retailer and storage company spun off from Trafigura Group, said first-quarter gross profit rose 23 per cent to a record $428 million (Dh1.5 billion) as margins increased and it expanded capacity. Sales volumes climbed 22 per cent to 5.2 million cubic meters, the highest ever quarterly figure, the Singapore-based firm said Wednesday in a statement. Earnings before interest, taxes, depreciation and amortisation jumped 37 per cent to $209 million as Puma’s gross margins rose to a record high.