But most analysts regard its efforts as minimal and have been urging it to get out of unprofitable businesses.
Premiums fell to $2.856 billion from $2.859 billion as the company pulled out of unprofitable business.
The owners became increasingly reluctant to fund the unprofitable business.
Nokia said earlier that it would either shut or sell the unprofitable business.
Management then cut costs and shed unprofitable businesses, leading to a rebound in Oxford's profits.
If you figured out some way to make the business unprofitable, it would die on its own.
That's offset by the inability to sell an unprofitable business at a profitable price.
But running an unprofitable business does not appeal to him.
He, too, shut down a vaunted but ultimately unprofitable business, the Sears catalogue.
The nine unprofitable businesses Occidental mentioned lost $53 million last year.