Australia's Santos full-year profit plunges 42%


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)


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


More Related Articles

Info icon

This data feed is not available at this time.

Sign up for the TradeTalks newsletter to receive your weekly dose of trading news, trends and education. Delivered Wednesdays.