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Annual Results

Indus Gas operating profits up

29 September 2017 09:19

Pre-tax profits at Indus Gas rose to $43.78m in the year to the end of March - up from $29.71m last time.

Total revenues increased to $54.57m (2015-16: $45.60m) and reported operating profit rose to $41.51m (2015-16: $33.15m).

Chairman Mr Peter Cockburn said: 'The financial period witnessed a continuation of the extremely challenging and volatile conditions facing the global oil and gas sector.

'However, the company's activities continue to gather momentum. The approval of the integrated FDP for the SSG and SSF area coupled with the revised FDP for the SGL acreage represented major milestones achieved in 2017.

'The company's strong operational and financial performance is highlighted by another year of improved revenue and profit generation.

'The Board continues to anticipate a substantial increase in revenues once the additional gas supplies commence under the new FDP approval for SSF and SSG.'

At 9:19am: (LON:INDI) Indus Gas Ltd share price was -5p at 397.5p

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