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2006 interim results: record Santos first half result

  • Net profit after tax up 28% to a record $370 million
  • Underlying profit up 68% to $407 million
  • First half EBITDAX up 45% to $1.01 billion
  • Cash flow up 14% to a record $643 million
  • Interim dividend up 11% to 20 cents per share
  • Production up 9% to 28.7 mmboe
  • On target for 7% rise in full-year production to 60 – 61 mmboe

Santos today announced the strongest first half production, revenue, profit and cash flow in the Company’s history.

Net profit after tax rose 28% to a record $370 million from $290 million in the previous corresponding period.

First half EBITDAX topped $1 billion for the first time with a 45% jump from $695 million to $1.01 billion.

The higher profit was achieved on record first half production of 28.7 million barrels of oil equivalent (mmboe), a 9% increase on the previous corresponding period.

Sales revenue increased by 29% to $1.3 billion, which also represented a record for the first half.

Cash flow from operating activities was $643 million, a 14% increase on the first half 2005 result of $565 million.