Beach Energy see NPAT at a record high

Company News

by Rachael Jones

Beach Energy (ASX:BPT) released its FY19 Full Year results today showing their underlying NPAT was up 86 per cent to a company-record $560 million.

The company also recorded its highest ever free cash flow of $559 million, while underlying EBITDA was up 80 per cent to a record $1.375 billion – well above initial guidance of $1.1–1.2 billion.

Beach Energy Managing Director Matt Kay said the results capped off a substantial year for the company as it also achieved record production of 29.4 MMboe, reached a net cash position two years ahead of schedule and delivered its best safety and environmental performance on record.

Shares in Beach Energy (ASX:BPT) are trading 5.4 per cent higher at $1.90,