August 21, 2019 / 11:06 PM / 2 months ago

Santos first-half profit jumps 89% on higher output, Quadrant buy

Aug 22 (Reuters) - Australian energy producer Santos Ltd on Thursday said first half-profit rose 89%, boosted by its acquisition of Quadrant Energy and strong output from its Cooper Basin fields in South Australia.

Australia’s No. 2 independent gas producer said underlying profit for the half-year ended June 30 came in at $411 million, compared with $217 million a year earlier, beating Citi estimates of $377 million.

Santos declared an interim dividend of 6 cents a share compared with 3.5 cents last year when it revived payouts after grappling with debt for more than two years. (Reporting by Shriya Ramakrishnan and Devika Syamnath in Bengaluru; Editing by Bernard Orr)

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