Energy company, Santos (STO) announced an 11.3% rise in 1H13 underlying profit to $251m
Energy company, Santos (STO) announced an 11.3% rise in 1H13 underlying profit to $251m. The result was driven by higher natural gas prices, which rose by 11% over the half. This helped offset a slight fall in both production & sales volume. Overall there were few surprises. A $0.15/s dividend was declared, to be paid to eligible shareholders on 30 Sept. STO reduced its dividend in 2011, however has still paid out $0.30/year over the past 3 years. A drop in production was already flagged in July, with guidance for FY13 downgraded to between 52-55mmboe. Visit investing.commsec.com.au/reportingseason for more information.
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