LONDON: BG Group reported a 63pc drop in profits in the first quarter as the collapse in the oil price at the start of the year continued to hurt earnings.
The oil and gas major reported a pre-tax profit of $715m (£460m), from $1.9bn a year earlier.
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However, on an adjusted net income basis, profit was $565m compared with $1.15bn a year earlier, beating the $305m forecast by analysts.
Shell agreed to buy BG Group last month in a £47bn deal that could be one of the biggest of the year if approved by shareholders and regulators.
BG has recommended that investors approve the takeover, which represents a 50pc premium to its closing price before it was announced.
BG’s shares have increased 29pc to 1,174p in London trading since the announcement. The stock fell 33pc last year.
