Pacific Energy Ltd. reported audited consolidated and parent earnings results for the year ended June 30, 2016. For the year, the company reported profit attributable to equity holders of the company of AUD 15,732,000 or 4.25 cents per diluted share compared to profit attributable to equity holders of the company of AUD 11,959,000 or 3.25 cents per diluted share reported in the same period last year. Revenue was AUD 51,337,000 against AUD 45,796,000 reported last year. Earnings before interest, tax, depreciation and amortisation was AUD 37,987,000 against AUD 30,833,000 reported last year. Results from operating activities were AUD 24,077,000 against AUD 19,381,000 reported last year. Profit before income tax was AUD 22,206,000 against AUD 17,196,000 reported last year. Net cash provided by operating activities was AUD 30,919,000 against AUD 25,158,000 reported last year. Purchase of property, plant and equipment was AUD 37,466,000 against AUD 9,695,000 reported last year. Purchase of other assets and investments was AUD 500,000. Underlying EBITDA was up 19% to AUD 36.8 million. Capital expenditure was AUD 37,603,000 against AUD 9,753,000 a year ago.

For the period, the parent company reported profit was AUD 509,000 against AUD 20,243,000 a year ago.

The company further growth forecast with EBITDA guidance of AUD 40 million - AUD 41 million for the fiscal 2017. In the absence of any major new capital expenditure requirements that may arise in the 2017 financial year, net debt is forecast to progressively reduce as a result of continuing solid cash flow from operating activities.