Pacific Energy Limited announced audited consolidated earnings results for the six months ended December 31, 2017. For the period, the company reported revenue of AUD 29,968,000 compared to AUD 29,019,000 a year ago. Earnings before interest, tax, depreciation and amortisation were AUD 20,336,000 compared to AUD 21,277,000 a year ago. Profit from operating activities were AUD 12,106,000 compared to AUD 13,507,000 a year ago. Profit before income tax was AUD 11,330,000 compared to AUD 12,663,000 a year ago. Profit attributable to equity holders of the company was AUD 8,034,000 or 2.16 cents per basic and diluted share compared to AUD 9,006,000 or 2.43 cents per basic and diluted share a year ago. Underlying EBITDA was AUD 21,046,000 compared to AUD 20,461,000 a year ago. Net cash provided by operating activities was AUD 17,310,000 compared to AUD 16,852,000 a year ago. Purchase of property, plant and equipment was AUD 14,558,000 compared to AUD 7,909,000 a year ago. Capital expenditure was AUD 14,911,000 compared to AUD 7,935,000 a year ago.

The company's full year 2018 EBITDA guidance of AUD 43 million to AUD 44 million, there is a continuing focus on pursuing the existing tender pipeline and new opportunities in both Australia and Africa, as well as considering acquisition opportunities for long term power generation assets and businesses.

The company expects only a modest level of capital expenditure during the second half of 2018.