News
Today we reveal the first group of companies in InDaily’s 2021 South Australian Business Index – our annual review of the top private and public companies in the state.
Business
A merger between Santos and Oil Search has been approved, creating a ‘regional champion’ in the oil and gas industry with a value of $21 billion.
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Construction materials and lime producer Adbri has continued its recovery with a $56.6 million net profit after tax for the first half of 2021 but the Adelaide-based company has warned of declining sales in the coming months, causing its share price to lose more than 8 per cent.
Commentary from major listed companies as reporting season gets into full swing this week will provide valuable insights into the business impact of lockdowns in the eastern states, according to Adelaide’s Argo Investments.
Santos has reported a six-month profit to June 30 of $482 million (US$354 million) on the back of record production, record sales volumes and rebounding oil prices.
A move to a software as a service model as more global companies look to migrate services into the cloud is beginning to yield results for South Australian listed company Prophecy International Holdings.
A proposed $21 billion union between South Australia’s biggest company Santos and Oil Search is back on track after the two oil and gas producers today announced they had reached an agreement on the merger ratio.
