Beach Energy Posts $345M Loss, Dividend Holds Steady

Australian oil and gas producer, Beach, reported a net loss of AUD 345.1 million for the second half of 2020, compared to a profit of AUD 207.2 million the previous year. The company's profit fell by 10% to AUD 172.7 million on an underlying basis. Beach had previously announced intentions to impair its assets, resulting in the weakened profit outcome. The company's directors declared an interim dividend of 2 Australian cents per share, matching last year's payout.