WDS

Australia's Santos full-year profit plunges 42%

Credit: REUTERS/CHRIS HELGREN

Feb 21 (Reuters) - Australian oil and gas producer Santos Ltd STO.AX reported a 42% drop in its annual underlying profit on Wednesday on the back of persistent weakness in commodity prices.

Santos, which earlier seized talks of a potential $52 billion merger with larger rival Woodside Energy WDS.AX, logged an underlying profit of $1.42 billion for the year ended Dec. 31, compared with $2.46 billion a year earlier.

That missed a consensus estimate of $1.49 billion, according to Jarden Research.

(Reporting by Echha Jain and Ayushman Ojha in Bengaluru; Editing by Maju Samuel)

((Ayushman.Ojha@thomsonreuters.com;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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