Oil group stays organic

BURMAH Castrol, the international fuels to chemicals specialist, yesterday ruled out major acquisitions as part of its future…

BURMAH Castrol, the international fuels to chemicals specialist, yesterday ruled out major acquisitions as part of its future growth strategy.

The group said it was aiming for "organic growth" as it reported an 8 per cent increase in interim profits. Burmah Castrol made an underlying pre tax profit of £125.9 million sterling in the six months to June 30th, compared with £117.1 million in the first half of 1995. The headline profit figure was further boosted by a £23.2 million exceptional profit from disposals in its fuels division, while operating profit rose 7 per cent to £134.5 million.

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