	total still expects billion franc loss french oil group total cie francaise des petroles tpn pa is still expecting a billion franc consolidated net loss including minority interests for after taking account of stock losses of billion francs the company said in a communique after a board meeting here in late january group president francois xavier ortoli told journalists that the slump in oil prices and the weak dollar had caused the stock depreciation turning a consolidated net profit before losses on stocks of six billion francs into a consolidated net loss of billion francs earlier today armand guilbaud president of total s refining and distribution subsidiary cie de raffinage distribution crd total france raff pa told journalists that had marked a return to profit for the subsidiary before stock depreciation crd made a net profit before stock depreciation and currency factors of billion francs last year after a billion loss in but its net loss last year taking account of that depreciation as well as currency fluctuations was billion francs after a billion loss in in crd s sales fell pct to mln tonnes from mln due to the growth in imports by independent distributors following a relaxation of regulations guilbaud said the subsidiary is expecting to cut its workforce to this year and in from last year under a job reduction scheme which will eventually save the group mln francs he said concerning business in he said that january was a good month but the situation deteriorated in february reuter 
