Winners and Losers: Beach’s big bash
Oil and gas producer Beach Energy was this week’s strongest performer, beating out Santos and BHP for the top spot.
Beach Energy is a major player in the Cooper Basin's Western Flank. Picture: Supplied
The Flinders Street headquartered energy firm added more than $20 million to its market capitalisation this week after releasing its quarterly activities report.
That document revealed strong production growth in both gas and oil, while revenue rose by 27 per cent to $450 million for the fourth quarter.
The company expects full year revenue of $1.6 billion, with the production uplift coming “at a time when markets need our products more than ever” according to CEO Morné Engelbrecht.
Beach beat out BHP and Santos for this week’s number one position, with Mayne Pharma and Elders rounding out the top five.
As for the losers, Centrex and Core Lithium both suffered from 16.7 per cent and 15.3 per cent drops respectively over the week.
Renascor Resources and Archer Materials both landed in the Losers section, while Maggie Beer Holdings also fell following new economic data demonstrating a rise in the cost of essentials.
Check out the Winners and Losers for the week ending 28 July:
