Beach Energy see NPAT at a record high

Company News

by Rachael Jones

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Last Updated: 25/02/2020 3:59 PM

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,

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.