BP's net profit jumps to $5.43bn

File photo.

File photo.

Published Oct 30, 2012

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British energy giant BP on Tuesday said its net profit jumped 7.7 percent to $5.43 billion in the third quarter compared to the equivalent period last year.

BP added that it was hiking its quarterly dividend by 12.5 percent on the back of the strong earnings.

“BP's performance and the strong progress we are making in transforming the company give us the confidence to increase distributions to our shareholders,” the company's chief executive Bob Dudley said in an earnings statement.

“We are on track with our strategy to 2014 and are laying the right foundations for sustainable growth during the coming decade,” he added. -Sapa-AFP

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