February 20, 2019 / 10:03 PM / 8 months ago

Australia's Santos' FY profit more than doubles

Feb 21 (Reuters) - Santos Ltd, Australia’s No. 2 independent gas producer, reported an above two-fold rise in annual underlying profit on Thursday, helped by the acquisition of Quadrant assets and higher realised prices for its oil and gas.

Underlying profit for 2018 rose to $727 million, which the company said is a record figure, from $318 million a year earlier. Four analysts on an average had expected underlying profit of $609.5 million, according to Refinitiv data.

The Adelaide-based company declared a final dividend of 6.2 cents a share. It had revived the payout policy with an interim payment for the half-year ended June 30, 2018 following a more than two-year lull.

Reporting by Aby Jose Koilparambil in Bengaluru Editing by Chris Reese

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