Ithaca Energy after-tax profits up 55% Source: SMW Ithaca Energy's profit after tax increased by approximately 55% to $145m in the year to the end of December, generating earnings per share of $0.48 (2012: $0.36). Cashflow from operations increased by approximately 170% in 2013 to $244m (2012: $90m), resulting in cashflow per share of $0.81 (2012: $0.35). Net proven and probable (2P) reserves totalled 58 million barrels of oil equivalent (at 31 December 2013, resulting in the delivery of a compound annual growth rate of approximately 11% since 2009 And the group said it made significant progress on execution and de-risking of the Greater Stella Area development during 2013, with start-up of production from the hub scheduled for the end of 2014. Chief executive Les Thomas said: "2013 marked a step-change in the development of the Company. Production, cashflow and reserves were all materially enhanced through the acquisition of Valiant. Significant progress and de-risking was achieved on all aspects of the Greater Stella Area development during the year. While delivery of first hydrocarbons from the hub remains the main focus of near term growth, we continue to look for new North Sea opportunities to drive additional longer term shareholder value."
31 Mar '14
Decent results 165p should clear soon
22 Mar '14
Results will be published on 31/03/2014 according to Company website investor relations financial calendar
11 Mar '14
RE: Results due
Their results for 2012 were on 26th March 2013 which should be a good guide as to this year.
10 Mar '14
Are any results dates likley soon? Any updates would be good for progress.
6 Mar '14
quickly does it
well for this week anyway. good to see us approaching £1.60 per share. any chartists out there with a view for next 4 weeks? thanks
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