BG Group sees profits rise

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UK-based exploration and production company BG Group (BG) has announced that its profits rose by 13 per cent during the second quarter of the year.

It put its increased returns down to the fact that production of liquefied natural gas increased, thereby offsetting lower prices and the weakened value of the dollar.

Profits over the second quarter to the end of June stood at £471 million, up from £418 million a year earlier.

"In a quarter with a high level of scheduled maintenance, operating performance remained strong," BG chief executive Frank Chapman said in a statement.

Profits over the half-year fell by nine per cent however, reaching £903 million compared to £996 million a year earlier.

Operating profit over the quarter reached£747 million in total.

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