Santos Ltd’s (ASX:STO) has delivered a full year net profit of $500 million, up 15 per cent from the $434 million achieved in 2009.
In the 2010 calendar year the oil and gas producer says underlying profit surged 46 per cent to $376 million on the back of higher product prices and lower exploration expenses.
Revenue rose 2.2 per cent to $2.2 billion, with Santos attributing higher commodity prices for driving the sales.
Santos has declared a dividend of 15 cents per share fully franked, taking the total full year dividend to 37 cents.
For the year ended 30 June 2010, Santos booked a net profit of $198 million.
