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23 Oct 2023 13:33
IN BRIEF: Europa Oil & Gas swings to loss amid one-off costs
Europa Oil & Gas Holdings PLC - UK and Ireland-focused oil and gas exploration, development, and production company - In the year ended July 31, reports a pretax loss of GBP884,000, compared to a profit of GBP1.4 million the year prior. Revenue rises to GBP6.7 million from GBP6.6 million year-on-year. Notes the stable revenue figure was despite a lower oil price and weaker pound during the period. Records a GBP1.7 million exploration write-off in the year, as well as significantly higher expenses. Administrative expenses jump to GBP1.9 million from GBP821,000, while finance expense climb to GBP717,000 from USD238,000.
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