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The supermajor reported annual replacement cost profits of $23.9bn £15.1bnn) in 2011, compared with a loss of $4.6bn £3.1bnn) the previous year.
And with staff as the only big cost, profits can be juicy: Tulchan's Andrew Grant says that any PR company that cannot make a 20% margin is doing something wrong.PR agencies are following the bankers in another way: they are expanding internationally.
The company's second quarter replacement cost profits, which strip out volatility in oil prices, were $3.2bn £1.9bnn), up from $2.4bn in the same period last year.
In October, BP reported its third quarter replacement cost profits - which strip out volatility in oil prices - were $2.4bn £1.5bnn), down from $3.2bn in the same period last year.
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These include: fixed assets, space, non-invest deposits, IT cost, profit, Deposit, Marketability employees and profitability employees.
The company said its underlying replacement cost profit, defined as its net income, was $1.3 billion.
So-called underlying replacement cost profit for the first three months of BP's financial year fell to $3.2bn from $4.2bn a year earlier.
BP also said its fourth-quarter adjusted "replacement cost profit" — which reflects the cost of replacing supplies of oil and gas — was $4.4 billion.
Stripping out the Gulf of Mexico costs and other one-off items, BP reported a 64 per cent decline in underlying replacement cost profit to $1.3bn in the second quarter.
The company reported underlying replacement cost profit – its definition of net income – of $1.8 billion for the quarter, which was better than the $1.2 billion analysts expected.
For the final three months of last year, BP said underlying replacement cost profit fell to $2.8bn from $3.9bn.
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