URGENT ¥¥¥ BP says 2012 net profits more than halve to $11.58 bn

British energy giant BP said Tuesday that net profits slumped by more than half to $11.582 billion (8.6 billion euros) last year as the group was hit by ongoing fallout from the 2010 oil spill disaster.

Earnings after taxation tumbled by 54 percent in 2012, compared with $25.7 billion in 2011, BP said in a results statement.