Woodside Posts Surge In Annual Profit

Woodside Petroleum

reported a strong rise in its annual net profit. Woodside's net profit for the year surged to US$2.98 billion, from US$1.51 billion, in the year-ago period. Its underlying profit climbed 25% to US$2.06 billion, versus estimates of US$1.97 billion. Woodside shares closed at $39.40 yesterday.