Companies & Finance

Santos doubles H1 profits to $217 mln

Santos doubled its profit in H1 2018 compared with H1 2017, to $217 million
By Staff reporter 23 August 2018 0 32277

Santos doubled its profit in H1 2018 compared with H1 2017, to $217 million, the Australian company announced on Thursday.

This strong cash flow has enabled the company to reduce its debt to $2.4 billion and reinstate dividends to shareholders, according to Chief Executive Kevin Gallagher.

It also puts the company in a good position for its acquisition of Quadrant Energy, which was announced on Wednesday.