26th Oct 2020 13:43
Star Phoenix Group Ltd - exploration and production company with operations in Trinidad and Indonesia - Pretax loss for the year ended June 30 widens to USD24.8 million from USD20.1 million a year prior. Administration and general expenses rise to USD4.3 million from USD2.1 million. Revenue was up at USD1.3 million from USD759,974 a year before. Decides against a final dividend. No dividend for financial 2020. Currently seeking opportunities to expand operations and a successful investment in a new project can be used to raise additional capital and subsequently generate positive cash flows. Focusing on managing existing cash reserves. Sufficient funds to meet the company's current working capital requirements.
Current stock price: 1.60 pence
Year-to-date change: down 20%
By Greg Roxburgh; [email protected]
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