BP reports an unusually high profit for the third quarter

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Oct 24, 2006, 10:43 GMT

London - British energy company BP Tuesday announced an unusually high profit for the third quarter of 2006. BP's replacement cost profit was 6.975 billion dollars (5.6 billion euros) as compared to 4.410 billion dollars a year ago, an increase of 58 per cent. The third quarter result included a net non-operating gain of 1.225 billion dollars, while in the corresponding quarter last year there was a non-operating charge of 921 million dollars in the third quarter. For the first nine months of 2006, BP showed a profit of 18.4 billion dollars, up 23 per cent. The 'trading environment reflected higher oil realizations and retail margins', BP Group Chief Executive Lord Browne said in press release Tuesday. © 2006 dpa - Deutsche Presse-Agentur

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