Santos FY Underlying Profit Drops 25% as Oil Prices Slide; Company to Cut Workforce by About 10%
Santos Ltd reported a 25% fall in underlying net profit after tax to $898 million for the 2025 financial year as softer commodity prices reduced realized sales values. Revenue declined 8% to $4.94 billion. Management announced plans to reduce headcount by around 10% to lower costs and align the company after a period of growth. The company declared…