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Santos has posted a 7.0 per cent rise in annual net profit as a jump in production helped offset weaker LNG and oil prices across the year.

Net profit attributable rose to $US674 million ($A1.0 billion) for the year ended December 31, while revenue from ordinary activities climbed 10 per cent to $US4.03 billion.

Australia’s second-largest independent gas producer declared a final dividend of five US cents per share, below last year’s payout of 6.2 cents per share.