Santos

Although another year of floods in the Cooper Basin led to lower production, higher oil and gas prices propelled Santos' profits higher. Revenue for the full year rose 14% to $2.5bn resulting in an impressive 27% increase in earnings before interest, tax, depreciation, amortisation and exploration (EBITDAX, a measure of field performance) to $2.1bn. After stripping away the effect of asset sales, including the 15% selldown of Gladstone LNG (GLNG), underlying profits rose a more sedate 20% to $453m, translating to earnings per share of 48 cents from which a fully franked 15 cent dividend was declared (ex-date 24 Feb). Table 1: Santos' full-year results Full-year ending...

Although another year of floods in the Cooper Basin led to lower production, higher oil and gas prices propelled Santos' profits higher. Revenue for the full year rose 14% to $2.5bn resulting in an impressive 27% increase in earnings before interest, tax, depreciation, amortisation and exploration (EBITDAX, a measure of field performance) to $2.1bn. After stripping away the effect of asset sales, including the 15% selldown of Gladstone LNG (GLNG), underlying profits rose a more sedate 20% to $453m, translating to earnings per share of 48 cents from which a fully franked 15 cent dividend was declared (ex-date 24 Feb).

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