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Business Description: Santos Limited (STO) operates in the exploration, development, production, transportation and marketing of hydrocarbons. Santos produces natural gas to Australian, Indonesian and other Asian markets. Santos has also developed oil and liquids businesses in Australia, Indonesia and Vietnam. Santos also focuses on transformational liquefied natural gas (LNG) strategy and has interests in four LNG projects in Australia.
Strategy Analysis: Santos' vision is to become a leading South East Asian energy company via its portfolio of growth projects. Strategy centres on the Cooper Basin, Eastern Australian gas, Western Australian oil and gas, LNG projects and Asian growth. It is continuing to build South East Asian interests while undertaking high impact exploration and developing new projects to drive production and earnings growth.
Santos reported NPAT down 31% to $519.0m for the year ended 31 December 2012. This decrease is primarily due to a $529.0m before tax ($408.0m after tax) gain on sale of non-current assets during 2011, combined with higher cost of sales, offset by higher sales revenue driven by higher liquids volumes and higher gas prices in the current period. Revenues from ordinary activities were $3.3bn, up 18% from last year. Diluted EPS was 54.1 cents compared to 84.4 cents last year. Net operating cash flow was $1.66bn compared to $1.25bn last year. The final dividend declared was 15 cents, taking the full year dividend to 30 cents, in line with 30 cents last year.
The Age 21/05/2013 |
Optus says its 4G mobile network will reach 70 per cent of the Australian population by mid-2014. The carrier revealed it has upgraded 4000 3G sites to 4G in five capital cities and in Coffs Harbour, the Gold Coast and Byron Bay. It also plans to make its 4G network suitable for customers with dual-band 4G mobile devices.
The Age 21/05/2013 |
Hong Kong private equity firm Quantum Pacific Capital says it is best placed to resolve a dispute over the ownership of a troubled $5 billion copper and gold project in Java and is negotiating to grab back as much as 80 per cent of the project on behalf of former owner Intrepid Mines.
The Age 21/05/2013 |
Shareholders in Transfield Services were bracing themselves on Monday for an earnings downgrade following downgrades by other mine services operators such as UGL, WorleyParsons and the smaller Coffey International last week.
The Age 21/05/2013 |
The whole retail recovery story has wandered perilously off script over the past quarter. The start of the year held the promise of green shoots at the discretionary spending end. But as we near the close of the financial year, the fragile recovery appears to have been nipped in the bud.
The Age 21/05/2013 |
New Leighton Holdings chairman Bob Humphris has moved to dispel fears that its directors remain at war with its German parent Hochtief, insisting the relationship was "collegiate" despite the abrupt resignation of three fellow directors two months ago.
The Age 21/05/2013 |
Australian shares flirted with five-year highs on Monday, returning to levels not seen since the onset of the global financial crisis, as investors were spurred on by signs of strength in the US economy.
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