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Updated Thursday, July 29, 2010 12:05 am TWN, Reuters

BG Group gets Q2 profit rise due to boost from oil, gas price

LONDON -- British gas producer BG Group Plc reported a 19 percent rise in second-quarter underlying profits, compared with the same period in 2009, thanks to higher oil and gas prices, although gas production fell. BG said net profit, excluding one-off items and non-cash accounting charges was US$899 million, ahead of an average forecast of US$839 million in a Reuters poll of six analysts.

However, a US$443 million non-cash charge related to the need to mark to market long-term gas contracts, pushed the headline net earnings down 21 percent to US$602 million.

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