High margin output, trading lift BP profits above forecast
LONDON, April 30
LONDON, April 30 (Reuters) - BP Plc profits outperformed expectations by almost $1 billion in the first quarter of 2013 thanks in part to the high margin nature of new production that came on stream at the end of 2012 and a strong performance from its trading division.
The British oil company turned in underlying replacement cost net profit of $4.215 billion for the quarter, down from $4.65 billion a year ago, but beating analysts expectations of around $3.27 billion.
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