Woodside Petroleum Reports 28% Decline In FY Net Profit
( FOX BUSINESS )- Sydney-listed Woodside Petroleum said full-year net profit fell 28% to A$1.03 billion ($948 million) after a one-off loss on the sale of oil fields in Africa, a stronger Australian currency versus the U.S. dollar and higher exploration costs. The result for the fiscal year ended Dec. 31 was above consensus forecasts for A$1.02 billion net profit. Underlying profit fell 15% to A$1.18 billion. Shares of Perth-based Woodside were up 3.3% to A$52.93 in mid-session trading.