Echo Energy PLC - Latin America-focused exploration company - On Friday, reports results for 2022. Revenue totals USD86, down sharply from USD23,318 the year before. Pretax loss widens to USD4.3 million from USD1.9 million. Basic loss per share was 0.27 US cents compared to 0.15 cents before. Sees significant opportunities at this point in the economic cycle to secure new energy assets at attractive valuations and is currently exploring a number of these opportunities.
Separately, announces results for the six months to June 30, 2023. Reports no revenue compared to USD6.2 million the year prior, with no cost of sales compared to USD7.3 million before. Pretax loss narrows to USD759,654 from USD2.0 million. Basic earnings per share total 0.19 cents, swing from a loss per share of 0.14 cents.
Current stock price: 0.019 pence
12-month change: down more than 99%
By Jeremy Cutler, Alliance News reporter
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Echo Energy (ECHO)