IGas Energy 1st Half Revenue Dragged By GBP/USD Averaging 1.39 -- Currency Comment
September 23 2021 - 6:31AM
Dow Jones News
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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