StockMarketWire.com - IGas Energy's after-tax losses narrowed to £32.9m in the year to the end of December compared with £44.8m in the nine months to the end of 2015.

Adjusted earnings before interest, tax, depreciation and amortisation fell to £10.2m from £18.3m last time.

Revenues rose to £30.5m from £25.1m.

Chief executive Stephen Bowler said: "Following the successful completion of our financial restructuring, IGas is positioned strongly for the future.

"We have a healthy balance sheet, supported by operating cashflow from our production assets, which will enable us to focus on delivering the significant potential of both our production and development assets and provide a solid foundation for the longer-term future of the company.

"We look forward to the next 12 months with confidence as both IGas and the wider industry start to drill and hydraulically fracture shale gas appraisal wells and collect important data for the future development of the UK shale industry."






At 8:19am: [LON:IGAS] Igas Energy PLC share price was +0.11p at 4.63p



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