Santos first half profit jumps 89%

Company News

by Rachael Jones

Santos (ASX:STO) reports underlying profit of US$411 million that's up 89 per cent on last year's result of $217 million.

Net profit after tax is US$388 million up 273 per cent from US$104 million last year.

The Board has resolved to pay an interim dividend of US6.0 cents per share fully-franked, an increase of 71 per cent over the previous interim dividend.

Managing Director and Chief Executive Officer Kevin Gallagher says today’s results demonstrate the successful integration of their Western Australian business following the acquisition of Quadrant.

The company bought Quadrant Energy for US$2.15 billion in November 2018.

Shares in Santos (ASX:STO) closed -0.44 per cent lower at $6.86 yesterday.
  

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.