Better second half helps Spanish Repsol's 1996 profit

Spanish Repsol said its 1996 net attributable profit nudged up 1.1 % to 119.01 bn pesetas, helped by an improvement in its performance in the second half of the year. Operating profit however fell to 197.23 bn pesetas from 212.50 bn. Extraordinary losses fell to 1.11 bn from losses of 7.04 bn pesetas in 1995. "The favourable performance in the second half of the year allowed the company to obtain the best results in its history,'' the company said.