BP looks to 50% profit rise

BRITISH Petroleum Co plc expects to add around 50 per cent to post tax profits over the next five years or so, equivalent to …

Fri Apr 12 1996 - 01:00

BRITISH Petroleum Co plc expects to add around 50 per cent to post tax profits over the next five years or so, equivalent to around $1.5 billion (£1 billion).

Group chief executive Mr John Browne said BP should also be able to increase its dividends, adding that "the guideline set by the board is that we should be aiming to pay out 50 per cent of our underlying earnings".