French oil group Total reported on Wednesday a 3.0-percent fall in net adjusted profit to 12.203 billion euros (14.57 billion dollars), blaming weakness of the dollar. The net adjusted figured excludes exceptional items. The full net figure rose by 12.0 percent to 13.181 billion euros.In contrast to other oil majors, Total reported that production had risen by 1.5 percent in 2007 compared with the figure for 2006, when net adjusted profit had reached a record high point.
Total, the fourth-biggest oil group in the world alongside US group Chevron , said that its net adjusted profit figure for 2007 had been set back by weakness of the dollar against the euro.
In dollar terms, net profit had risen by 6.0 percent to 16.723 billion dollars. Total recommended an 11.0-percent increase in the dividend to 2.07 euros per share. In the fourth quarter alone, Total reported a 14.0-percent rise in net adjusted profit to 3.107 billion euros. Sales in the whole of last year rose by 3.0 percent to 158.752 billion euros.
Source: Agence France Presse
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