Tuesday, April 29, 2008

BP's first-quarter profit jumps 63 percent

BP's first-quarter profit jumps 63 percent

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BP has reported a 63 percent jump in profits in the first quarter compared to the same period a year ago.

The oil company on Tuesday reported a profit of $7.6 billion compared to $4.4 billion in the first quarter of 2007.

First-quarter profit was up 73 percent compared to the previous quarter.

BP's closely watched replacement cost profit rose 48 percent to $6.59 billion. This compared to US$4.44 billion in the first quarter of 2007.

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