PARIS (Bloomberg) — Rubis SA, a French distributor of liquefied petroleum gas which bought Shell Oil's Bermuda operations last year, said annual profit rose 60 percent.Net income climbed to 30.5 million euros (40.3 million euros) from 19 million euros a year earlier, Paris-based Rubis said last week. Rubis' revenue for the 12 months more than doubled to 727 million euros.

Rubis acquired businesses being sold off as peripheral assets by larger oil, gas and chemical companies. In 2006, Rubis acquired from Shell, Europe's largest oil company, a petroleum distribution business in the Bermudas. The company in 2005 bought a Shell unit in the French West Indies and French Guyana.