April 30, 2014 / 12:15 PM / 3 years ago

Phillips 66 quarterly profit rises

April 30 (Reuters) - Phillips 66, the second largest U.S. independent refining company that also has a big chemicals business, reported a higher quarterly profit on Wednesday, helped by a big gain related to a share exchange.

Phillips, based in Houston, had a first-quarter profit of $1.6 billion, or $2.67 per share, compared with $1.41 billion, or $2.23 per share in the same quarter in 2013.

Reporting by Anna Driver

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