Beach Energy’s Limited
(ASX:BPT) full year net profit has slipped to $153.65 million as lower oil prices dragged on revenues.
Despite the hardships, full year revenues still rose to $700.5 million, boosted by higher sales volume.
Revenue boosts were offset by royalty payment increases, higher depreciation charges and carbon tax payments.
Beach says production rose by 7 per cent to 8 million barrels, contributing to an operating cash flow of $264 million.
Australia’s sixth largest oil producer says it has a cash balance of $348 million.
Beach Energy will pay a total dividend of 2.75 cents
