Woodside Petroleum Posts Drop In Annual Net Profit

Woodside Petroleum Ltd WOPEY posted a 4.3% drop in its annual net profit. Woodside Petroleum's net profit for the period declined to US$1.51 billion, versus US$1.58 billion in 2010. Its underlying profit surged to US$1.66 billion, versus analysts' estimates of US$1.69 billion. Woodside Petroleum shares closed at $38.22 yesterday.