SYDNEY, Feb. 22 (Xinhua) -- One of Australia's largest energy companies, Woodside Petroleum, has posted a strong profit result on Wednesday, with their after tax profits surging to 979 million U.S. dollars, after only making 113 million dollars at the same time last year.
Gross profit for the energy giant fell, however, with the company only pulling in 1.8 billion dollars this year, down from their robust 1.96 billion dollar effort in the corresponding period last year.
The company also reported strong results in its cash on hand and debt positions, with 2.679 billion dollars available in liquid assets, while debt is sitting at 4.688 billion dollars.
Woodside reported the second best production result the company has ever had in oil over the half year, with 94.9 million barrels of oil equivalent produced, and also posted their best full year results for LNG production throughout 2016.
The results come as Woodside announced the hiring of a new chairman, former Wesfarmers chief Richard Goyder on Tuesday, who will begin his new role with the company in April 2018.
Woodside will pay a dividend of 49 U.S. cents for the half year, bringing the full year dividend to 83 U.S. cents per share for investors.
