Star Energy Group PLC - London-based onshore energy company, formerly known as Igas Energy PLC - For the six months to June 30, reports that revenue fell 22% to GBP23.8 million from GBP30.5 million a year prior. Pretax profit declined 32% to GBP4.2 million from GBP6.2 million, while basic earnings per share declined to 0.42 pence from 15.45p.
Chief Executive Officer Chris Hopkinson says: "We have delivered a strong operating performance in the first half with average net production of 2,071 barrels of oil equivalent per day compared to 1,865 in 2022."
He adds: "Maximising returns from our conventional oil and gas business remains a key focus for us, given its free cash generation, particularly with improving commodity prices."
Current stock price: 9.16 pence
12-month change: down 90%
By Jeremy Cutler, Alliance News reporter
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Star Energy (STAR)