BP Doubles Annual Profit

Shares in FTSE 100 oil giant BP rose today after it announced a doubling in annual profit and raised its dividend

Morningstar News Team 5 February, 2019 | 2:40PM

BP petrol station

Shares in FTSE 100 oil giant BP (BP.) rose today after it announced a doubling in annual profit.

Taking the lead from peer Royal Dutch Shell's analyst-beating results, oil major BP was the best performer in the FTSE 100 on Tuesday after its full-year earnings came in ahead of forecasts.

BP, up 4.9%, said underlying replacement cost (RC) profit – its preferred earnings measure – came in at $12.72 billion, up from $6.17 billion in 2017. Market consensus had seen a figure of $11.88 billion. 

Fourth quarter underlying RC profit was $3.48 billion, up from $2.11 billion the same period a year before. Expectations had been for underlying RC profit of $2.63 billion. 

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
BP PLC288.25 GBX-2.37

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