By Mauro Orru

 

IGas Energy PLC posted higher revenue in the first half compared with the same period last year, but the company said the value of sterling rising over the period to an average of $1.39 against the dollar had been a drag on turnover.

Sterling increased in value from an average of $1.28 in the first half of 2020, which "partially offset the positive impact on revenues as a result of increased prices compared to H1 2020," the company said.

IGas Energy, which operates onshore oil-and-gas wells in England and Scotland, said revenue rose to GBP16.6 million from GBP10.5 million in the first half of 2020.

Sterling currently trades at $1.3674.

 

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

 

(END) Dow Jones Newswires

September 23, 2021 06:16 ET (10:16 GMT)

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