Beach’s profits reach record highs

Oil and gas producer Beach Energy has reported solid results for its full-year ended June, with underlying net profits up by 86%, while underlying earnings before interest, taxes, depreciation and amortization (Ebitda) increased by 80%. Underlying net profits after tax reached a record A$560-million in the full year, while underlying Ebitda was up to A$1.37-million, which was above the guidance of A$1.1-billion to A$1.2-billion, Beach said on Monday.