Not much profit in IGAS and plenty of debt
as at March 31
· Revenues of £75.9m (2013: £68.3m)
· Total Production c.1.0mmboe (2013: c. 0.9mmboe)
· EBITDA2 of £34.3m (2013: £32.3m)
· Underlying operating profit3 of £20.3m (2013: £22.1m)
· Net profit/(loss) before tax of £2.3m (2013: (£6.0m))
· Net cash from operating activities £25.2m (2013: £28.9m)
· Cash and cash equivalents at 31 March 2014 were £28.3m (2013: £9.8m)
· Net debt of £80.4m4 (2013: £77.4m)
· Completed issue of US$165m secured bonds in April 2013, and issued US$30m unsecured bonds in December.
DTE Price at posting:
17.7¢ Sentiment: None Disclosure: Held
