Woodside: Interim result 2015

Despite far lower profits, this was a fair result.

Woodside Petroleum’s interim result may look calamitous – revenue fell 28% to US$2.5bn and net profit fell 39% to US$680m – but this was an excellent outcome in the circumstances. Lower oil prices and currency moves alone stripped US$910m from profits and lower volumes about US$150m more, although this was partly offset by cost cuts and lower taxes.

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