French oil company Total posted a 14 per cent rise in fourth-quarter underlying profits, thanks to record oil prices and a small rise in production, and predicted sector-beating growth in coming years.

The fourth-biggest western major oil company said on Wednesday adjusted net profit — which strips out one-off items and unrealised gains or losses related to changes in the value of inventories — was €3.107 ($4.53bn) in the final quarter of 2007.