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6

BP Q4 Record Profit Lower Than Expected

BP PLC reported a lower than expected 53 per cent rise in fourth-quarter

BP PLC reported a lower than expected 53 per cent rise in fourth-quarter net profit on Tuesday, after a turbulent year in which it lost its chief executive and faced continuing operational issues.

BP said net profit rose to $US4.4 billion ($A4.9 billion), from $US2.88 billion ($A3.20 billion) a year ago.

Revenue for the fourth quarter, including asset disposals, rose to $US81.5 billion ($A90.4 billion) from $US62.8 billion ($A69.7 billion).

Over the full year, net profit fell 5.5 per cent to $US20.8 billion ($A23.1 billion), from $US22 billion ($A24.4 billion) in 2006. Revenue rose 6.2 per cent to $US291.4 billion ($A323.4 billion), from $US274.3 billion ($A304.4 billion).

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