Oil and gas business Beach Energy has suffered a $79 million half year loss after sliding prices hurt revenue and forced it to write down the value of its assets.
Beach Energy's net loss for the six months to December 31, down from a net profit of $160.5 million a year ago.
Sales revenue was down 23 per cent to $427 million, while underlying profit, which excludes one-offs, fell by more than half to $72.4 million.
The company earlier this month announced $166 million in asset writedowns as a result of the oil price slide.
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