Total 4Q Earnings Buoyed by Higher Production
07 Febrero 2019 - 1:54AM
Noticias Dow Jones
By Nathan Allen
Total SA (FP.FR) said Thursday that its net profit rose in the
fourth quarter, largely as a result of increased production
volumes.
The French oil major said net profit for the October-December
period was $1.13 billion, up from $1.02 billion a year earlier.
Total's adjusted net profit rose to $3.16 billion from $2.87
billion, the company said.
Analysts had forecast adjusted net profit of $3.04 billion,
according to a FactSet-compiled consensus.
"These excellent results reflect the strong growth of more than
8% for the group's hydrocarbon production," Chief Executive Patrick
Pouyanne said.
The company proposed an annual dividend of 66 European cents
($0.75), up from 62 cents a share last year, and said it will
cancel the option for a scrip dividend from June.
In 2019 Total said it is targeting $4.7 billion in cost
reductions and plans to invest between $15 billion and $16
billion.
Write to Nathan Allen at nathan.allen@dowjones.com
(END) Dow Jones Newswires
February 07, 2019 02:39 ET (07:39 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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