ITV NEWS: Shell reports record £9.3bn profit: “Oil producer Shell has revealed record annual profits for a UK company of $17.59 billion (£9.32 billion).”: “Chief executive Jeroen van der Veer said: "2004 was a year of extremes, with the reserves recategorisation on one hand and record net income and cash generation on the other.” (ShellNews.net) 3 Feb 05

7.49AM, Thu Feb 3 2005

Oil producer Shell has revealed record annual profits for a UK company of $17.59 billion (£9.32 billion).

It marks an increase of nearly $5bn above the result in 2003, reflecting higher oil prices.

Chief executive Jeroen van der Veer said: "2004 was a year of extremes, with the reserves recategorisation on one hand and record net income and cash generation on the other.

"We have taken the steps necessary to close out the reserves issue, made substantial improvements to our portfolio and are reshaping the organisation.

"We expect to pay out at least $10 billion in dividends in 2005 and will relaunch our share buyback programme.

"The proposal to create Royal Dutch Shell plc reflects our commitment to regain our competitive strength."

http://www.itv.com/news/britain_1696422.html