Ithaca Energy H1 Pretax Profit Rises

(RTTNews) - Ithaca Energy reported first half profit before tax of $513.4 million compared to $189.4 million, last year. Loss for the period was $217.5 million reflecting primarily a one-off, non-cash deferred tax charge of $327.6 million due to the two-year extension of EPL to 31 March 2030. Basic loss per share, in cents, was 13.2 compared to profit of 10.5. Adjusted net income increased to $128.7 million from $124.7 million.

First half average production was 123.6 kboe/d compared to 53.0 kboe/d, prior year. For fiscal 2025, the company's production guidance range was upgraded to 119-125 kboe/d from 109-119 kboe/d.

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