Last month the company, based in Chicago, announced quarterly profits of $21.4 million, or 18 cents a diluted share.

Since announcing record quarterly profits last month, oil companies have been under growing pressure to justify such rewards.

The company announced post-tax profits in 1949 of £119,909 (tax: £140,500); for 1950 the figures were £164,704 and £201,500, respectively.

Major European airlines have announced lower profits or curbed expansion plans.

Even now, they announce profits and losses all together in a group meeting.

Glitnir announced strong profits for 2006, with a return on equity after tax of 39.4 per cent.

The Chester-based group announced profits of more than £111ma 17.4% jump which sparked an immediate 1% price drop for its 1.3m customers.

Pepsico was one of the first big companies to announce strong profits, with a 6.7 percent increase that beat expectations.

A lot of the companies are paying the price as although they are announcing larger profits, they expected more.

Other auto makers are expected to announce strong third-quarter profits later this month.