Woodside Petroleum FY Profit $2.89b up 98%

Oil and Gas company, Woodside Petroleum (ASX:WPL) have released its full year profit results to stakeholders, shareholders and investors.

• Woodside Petroleum Net Profit $2.89 Billion, up 98 percent on the previous year.
• Woodside chief executive officer Peter Coleman said, "Today's financial results highlight the ongoing strength of the company's base business and the significant contribution Pluto has made to our bottom line. ou can see that 2012 has been a record year for the company in many aspects, with strong improvement across financial metrics. We continue to deliver strong returns to our shareholders with a record four-year US dividend of 130 US cents a share."
• Woodside Petroleum has declared a dividend distribution of US65 cents per share, fully franked, up US10 cents.
• Woodside's 90 percent stake in the Pluto project contributed revenue of US$1.4 billion and a gross profit of US$642 million during its eight months of operation last year.
• Woodside investment expenditure down 53 percent in 2012 to $US1.8 billion
• WPL lifted its investment expenditure forecast for 2013 to $US2.6 billion in 2013 due to anticipated additional costs associated with the Leviathan and Myanmar projects.
• CEO Coleman earned $7.3 million in salary and bonuses in the previous year.