Shares in Beach Energy Limited (ASX:BPT) jumped to one of the best performing stock’s in the S&P/ASX 200 index yesterday after delivering a better than expected first half profit.
The oil and gas producer also impressed investors after increasing its annual production guidance and declaring a special dividend.
In the last six months of 2013 the energy company’s net profit soared 267 per cent to $160.5 million on the back of higher oil output and higher prices for its products.
Underlying profit more than doubled to a record $158 million while sales revenue increased 63 per cent thanks to record volumes.
An interim fully-franked dividend of 1 cent per share has been declared in addition to a special dividend of 1 cent per share.
Shares in Beach Energy jumped 8.85 per cent following yesterday’s financial result to end the session at $1.66.
