Total Reports 72% Increase in Profit on Higher Output
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Total SA, Europe’s third-biggest oil company, reported a 72 percent increase in second-quarter profit after projects started last year were ramped up.
Profit excluding changes in inventories and the value of a stake in Sanofi-Aventis SA rose to 2.96 billion euros ($3.9 billion) from 1.68 billion euros a year earlier, the Paris-based company said today in a statement. That beat the 2.65 billion- euro mean estimate of analysts surveyed by Bloomberg.