Woodside Energy H1 interim profits slide
By Iain Gilbert
Date: Tuesday 27 Aug 2024
(Sharecast News) - Exploration and production firm Woodside Energy shares advanced on Tuesday despite posting a decline in interim profits as a result of lower prices for liquefied gas.
Woodside said underlying net profits after tax had fallen 14% year-on-year to $1.63bn, while operating revenues and net cash from operating activities both dropped 19% to $5.98m and $2.39m, respectively.
Interim dividends fell 14% to $0.69 per share but free cash flow, on the other hand, surged 136% to $740.0m
The London-listed group stated it had delivered first-half production of 89.0m barrels of oil equivalent or 491,000 barrels per day.
As of 0935 BST, Woodside Energy shares were up 3.49% at 1,380.58p.
Reporting by Iain Gilbert at Sharecast.com
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