Paris - Benefiting from soaring oil prices in the first half of the year, French petroleum giant Total in 2008 posted the highest ever profits registered by a French company, the firm said Thursday.

Profits for 2008 were 13.92 billion euros (18 billion dollars), up 14 per cent over 2007, despite a downturn of 8 per cent in the fourth quarter, when oil prices fell back, Total said in a press statement.

Turnover rose by 13 per cent last year, to just below 180 billion euros. In the fourth quarter, sales fell by 10 per cent, compared to the same period in 2007.

Company head Christophe de Margerie said that 2008 was marked by "unprecedented volatility." He said the company faced numerous risks, "particularly industrial and safety risks."

He added, however, "Total begins 2009 confident that it can weather a major economic crisis without having to revise its capacity for investments."

Investors agreed and bid up Total shares by 0.41 per cent, to 40.25 euros, in early trading on the Paris Bourse. (dpa)