Woodside Half Yearly Profit

Oil producer, Woodside Petroleum (ASX:WPL) have posted an increase of almost 40 percent in net profit after tax for the first six months to June 30 of $US 901 million or 39.5 percent.

Woodside Petroleum Dividends

WPL have declared a dividend for the first half. Interim dividend is 50 cents per share, fully franked, an increase of 4 cents on the corresponding period 1H 2009.

• Reported net profit after tax of $901 million up 40% (1H 2009 $646 million), due mainly to stronger commodity prices and the gain on the sale of Woodside’s Otway assets.
• Underlying net profit after tax of $813 million up 26% (1H 2009 $646 million).
• Revenue of $2,102 million up 45% (1H 2009 $1,446 million) largely due to stronger commodity prices.
• Production of 36.7 MMboe down 8% (1H 2009 40.1 MMboe) due to the divestment of Woodside’s Otway gas assets and natural field decline in our oil assets.