Senex Energy Limited (ASX:SXY) has posted a net profit drop over the same period it delivered record production, sales revenue and reserves growth.
The oil and gas explorer’s net profit dropped 38 per cent to $37.9 million in the 2014 financial year. Managing Director Ian Davies has described the company’s overall financial performance as strong and highlighted its record achievements.
Sales revenue rose 24 per cent to a record $170.9 million on the back of a 10 per cent rise in production to hit a record of 1.38 million barrels of oil.
Mr Davies says it was a year of continued strengthening of the Cooper Basin oil business with a solid foundation laid down for a gas business in the Cooper and Surat Basins.
Looking ahead Senex Energy says these strong results set a foundation for its growth acceleration strategy aiming to consistently deliver enhanced returns to shareholders.
