Financial Times FT.com

Exxon net profit hits $10bn as prices soar

By Sheila McNulty in Houston

Published: October 28 2005 03:00 | Last updated: October 28 2005 03:00

ExxonMobil yesterday said net profit soared by 75 per cent to about $10bn as the world's largest publicly traded oil and gas company cashed in on high energy prices.

While the oil major's revenues increased 32 per cent to $100.7bn, the results fell short of analysts' forecasts due to production outages from the hurricanes and lower profit at the group's chemicals business.

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