News In Brief

Exxon expects to report 20% increase in profits

Exxon, the largest industrial corporation in the US and one of the world's leading oil companies, said Tuesday its estimated profits for the third quarter of this year showed an improvement of 20.5 percent. Chairman C. C. Garvin Jr., said the company managed the improvement, to $1.225 billion, from $1.017 billion in the third quarter of last year, despite continuing depressed conditions in the oil business outside the US.

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