Economic performance

Market volatility and operational excellence
Our focus is to create long term sustainable growth for our shareholders and the communities in which we operate. While market conditions in FY17 continued to be challenging, we maintained a strong financial position despite significantly lower oil prices. We maintained our focus on improving efficiencies, monitoring costs, managing stakeholder expectations and exploring opportunities for maximising revenue. We reduced our full year capital expenditure by 11% from the previous year and continually reviewed our capital allocation to ensure highest return on investment is achieved. Other financial achievements include an increase in underlying net profit after tax (NPAT) by 353%, production increase by 9%, operating cash flow up by 38% to $321 million, and available liquidity of $698 million.

To further read about these initiatives and our economic performance, please refer to the 2017 Sustainability Report.

   2017 Sustainability Report