UK oil and gas producer Ithaca Energy posts profit decline
The British oil and gas company working in the North Sea, Ithaca Energy, said on Wednesday that its full year profit dropped to $215.6 million from $1.03 billion last year. The company noted that its full year result was impacted by a $557.9 million pre-tax impairment charge, or post-tax $154.0 million, principally in relation to the Greater Stella Area and Alba. Earnings per share (EPS) in US cents were 21.2 compared to 102.1. Adjusted EPS were 36.7 compared to 46.0. For the year ended December 31, 2023, revenue declined to $2.32 billion from $2.60 billion in the previous year. Ithaca Energy ...