Beach Energy’s profit jumps almost 200%, upgrades earnings guidance

Company News

by Anna Napoli

Oil and gas company, Beach Energy (ASX:BPT) has reported its net profit after tax (NPAT) Increased 196 per cent to 282.9 million for the first half of 2019 when compared to the prior corresponding period.

The company has lifted its FY19 earnings guidance (EBITDA) to $1.25 to $1.35 billion due to the strength of its portfolio of assets.

Revenue (from ordinary activities) strengthened to over the six month period, lifting 169 per cent on the same time last year to $ to 1.1 billion.

The company declared a Fully franked Interim dividend of 1 cent.

Shares in Beach Energy (ASX:BPT) are trading 5.92 per cent higher to $1.79.
 

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.