BP sees operational improvements boosting second half profit

LONDON (Reuters) - BP (BP.L) said on Thursday that operational improvements at the oil major should start to boost profits in the second half of this year.

"(The changes) should begin to feed into the bottom line in the second half of 2008," Chief Executive Tony Hayward told the group's annual shareholder meeting.

He added that the company remained too bureaucratic and that costs were too high.

"There's much more work to do," he said.

(Reporting by Tom Bergin, Editing by Mark Potter)