Oil and gas company Cooper Energy (ASX:COE) has reported a massive recovery with its net profit after tax (NPAT) hitting $19.8 million in the first half half of the 2018 financial year.
It’s a massive turnaround for the company which reported a loss of $8.2 million in the same period last year.
In more good news for Cooper Energy, its revenue strengthened over the first half of the 2018 financial year and lifted 302 per cent to $31 million.
Its underlying earnings before interest, tax, depreciation and amortisation (EBITDA) rose 433 per cent to $13 million, another huge swing up from the same time last year’s loss.
Shares in Cooper Energy (ASX:COE) are trading about 0.8 per cent higher to $0.32.