News: OSH ASX-listed Oil Search posts 93% drop in annual underlying profit

Feb 23 (Reuters) - Australia-listed Oil Search Ltd (OSH) said on Tuesday its full-year underlying profit fell 93.1%, hurt by a slump in realised oil prices as demand took a dive due to the coronavirus outbreak.

The PNG-focused explorer said core net profit after tax for the year ended Dec. 31 fell to $22.0 million, from $320.9 million a year ago. Analysts were expecting the company to post a core loss of $24.7 million, according to Refinitiv IBES.

Oil Search declared a final dividend of 0.50 U.S. cent per share, down from 4.50 U.S. cents per share it paid last year.