Brazil's Petrobras posts first annual profit in five years

RIO DE JANEIRO (Reuters) - Brazilian state-run oil firm Petroleo Brasileiro SA <PETR4.SA> reported its first annual profit in five years on Wednesday, as widely expected.

In a securities filing, Petrobras, as the company is known, said net income in the fourth quarter totalled 2.102 billion reais (423.37 million pounds), up from a loss of almost 5.5 billion reais in the same period last year. Net income for full-year 2018 came to 25.779 billion reais.

(Reporting by Gram Slattery, editing by G Crosse)