Santos full-year profit US$630 million

Company News

by Rachael Jones

Gas producer Santos (ASX:STO) reports that its net profit after tax soared from last year's US$360 million loss to US$630 million for the full year 2018.

This was above Citi's analyst expectation of $565 million.

Underlying profit rose to a record $727 million from $318 million a year earlier.

EBITDAX is up 51 per cent to a record US$2.2 billion and free cash flow up 63 per cent to a record of more than US$1 billion.

This was helped by the acquisition of Quadrant assets and higher realised prices for its oil and gas.

The Adelaide-based company declared a final dividend of 6.2 US cents a share fully franked.

Shares in Santos (ASX:STO) are trading 0.07 per cent lower to $6.94.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.