Expects a Significant Rise in FY12 NPAT and FY12 Underlying NPAT from Prior Year
Adelaide, Aug 24, 2012 AEST (ABN Newswire) - Beach Energy Limited (
ASX:BPT) (PINK:BCHEY) advises that it expects full year FY12 NPAT to be approximately $164 million and full year FY12 underlying NPAT to be approximately $122 million.
Beach is pleased to announce that it expects the full year FY12 net profit after tax ("NPAT") to be approximately $164 million, a $262 million increase on the FY11 net loss after tax of $98 million. Beach also advises that it expects its FY12 underlying NPAT, which adjusts for one-off and non-recurring items, to be approximately $122 million, a 190% increase on the FY11 underlying NPAT of $42 million.
The expected increase in FY12 underlying NPAT is mainly due to:
- Increased sales, predominantly driven by production growth;
- Rise in average realised prices for all products;
- Higher oil in the sales product mix; and
- The renegotiation of the Exxon Mobil royalty.
The FY12 Preliminary Final Results for Beach will be released pre-open on Tuesday, 28 August 2012. An analyst call will take place at 11:00am (AEST), which may be listened to live through Beach's website. A recording of this call will be made available on Beach's website within 24 hours.
Contact
Beach Energy Limited
T: +61-8-8338-2833
F: +61-8-8338-2336
WWW: www.beachenergy.com.au
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