Circle Oil Half-Year Pretax Profit +10% to $14.7M

Circle Oil Half-Year Pretax Profit +10% to $14.7M
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Δευ, 2 Σεπτεμβρίου 2013 - 17:45
Circle Oil PLC (COP.LN), an international oil and gas exploration, development and production company, Monday posted a 10% rise in pretax profit during the half year-end, adding that it has tendered an additional 2D seismic survey for offshore Oman to delineate inshore exploration drilling targets.
Circle Oil PLC (COP.LN), an international oil and gas exploration, development and production company, Monday posted a 10% rise in pretax profit during the half year-end, adding that it has tendered an additional 2D seismic survey for offshore Oman to delineate inshore exploration drilling targets.

MAIN FACTS:

-The company recorded pretax profit of $14.7 million during the half year-ended June 30, compared with $13.3 million a year-earlier.

-Group revenue $42.3 million versus $35.4 million.

-Operating profit $16.7 million versus $14.7 million.

-Net profit $14.7 million versus $13.3 million.

-Ebitda $25.2 million versus $18.8 million.

-Diluted earnings per share 2.37 cents versus 2.22 cents.

-Cash generated from operations after working capital changes $23.7 million versus $14.1 million.

-Available cash at June 30, $23.5 million versus $12.2 million.

-To embark on exploration activity in
Morocco and Tunisia which has the potential to significantly enhance position in these countries.

-Circle Oil shares at 0738 GMT traded up 0.7%, at 18.0 pence, valuing the company at GBP102.8 million.

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