31st Oct 2013 08:09
LONDON (Alliance News) - Africa-focused oil and gas company Afren PLC (AFR.L, AFRNF.PK), Thursday reported an increase in the nine-month profit, as revenues climbed. The company said that the last year results were restated.
For the period, the company reported profit before tax from continuing operations of $427 million, compared with $401 million last year. Including a profit from discontinued operations of $38.1 million, the after-tax profit attributable to equity holders of Afren was $166.7 million, compared with $123 million last year. The last-year results included loss of $5.4 million from discontinued operations. Earnings per share from all activities were 14.9 cents, compared with 10.9 cents a year ago.
Revenue from continuing operations was $1.20 billion, compared with $1.10 billion a year earlier.
Full year production are expected to be at the upper end of the 40,000 to 47,000 boepd guidance.
Copyright RTT News/dpa-AFX
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