PetroChina reports 70% drop in 2015 profits

China's biggest state-owned oil and gas producer, PetroChina, has reported a near 70% fall in net profits for 2015, in line with earlier guidance.

 

Like many other major oil companies, PetroChina's profits have been hit by the fall in oil prices over the past year.

Net profits were 35.51bn yuan ($5.46bn; £3.85bn) in 2015, down from 107.17bn yuan the year before. the company said.

Heineken sees Higher Profits but Carlsberg Struggles

Two of Europe's biggest brewers have posted contrasting results in the face of challenging trading conditions. 

 

Dutch brewer Heineken has increased its dividends on the back of net 2015 profits of €1.89bn (£1.47bn; $2.13bn), up 25% on the previous year.

Heineken said it would propose a dividend of €1.30 per share, above €1.10 paid last year.

Meanwhile, Danish brewer Carlsberg saw an annual loss of $261.8m (£181m), better than analysts had expected.

"Mixed year"

BT unveils new structure and 24% jump in pre-tax profits

BT Announced a "Standout Quarter" in the three months to the end of December and a restructuring of its business following its recent acquisition of EE.

 

It saw a 24% rise in pre-tax profits to £862m.

Revenue rose 3% to £4.59bn, up 4.7%, which it said was its best result for more than seven years.

The results and restructuring come three days after BT acquired EE.