Woodside Petroleum half-year profit falls 28%

Australia’s Woodside Petroleum reported a 28% slump in first-half adjusted net profit as coronavirus-related disruptions hammered fuel demand and hit LNG prices.

The country’s top independent gas producer reported underlying net profit after tax of $303 million for the six months ended June 30, down from $419 million a year earlier.

Woodside announced an interim dividend of 26 cents per share, compared with 36 cents it paid a year earlier. (Reporting by Shashwat Awasthi and Shruti Sonal in Bengaluru; Editing by Sriraj Kalluvila)