Total says second quarter net profit leaps 72 percent

30th July 2010, Comments 0 comments

French oil giant Total said Friday its second quarter net profit jumped 72 percent to 2.96 billion euros (3.86 billion dollars), benefitting from higher oil prices.

Sales were 41.3 billion dollars, a rise of 31 percent, the company said.

The figures were higher than expected by financial analysts polled by Dow Jones newswires who predicted a net profit of 2.67 billion euros, an increase of 55 percent.

Between April and the end of June Total benefitted from a 32 percent year-on-year increase in the price of Brent crude to 78.20 dollars and an eight percent increase in production to 2.359 million barrels a day.

© 2010 AFP

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