Cooper Energy swings to profit up from prior loss

Company News

by Jessica Amir

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.

Jessica Amir

Finance News Network
Jessica is the head of news and a senior finance journalist and presents bulletins including the Market Outlook, Market at Midday and Market Wrap. She also interviews ASX CEOs and leading fund managers. She joined FNN in January 2017 with over six years of broadcast journalism experience including with Sky News Business, ABC 1, ABC's The Business and ABC24. She’s also worked as a TV reporter for Prime 7 and WIN News. Jessica has worked in financial planning for over six years with leading wealth managers and in real estate.