Cue swings to loss

THE significant growth Cue Energy Resources achieved in production and revenues for the year ended June 30 was not enough to avoid a massive loss, although for the oil and gas producer it was largely down to an accounting change.

Though company's profit grew 10% to $25.76 million, its cash balance declined for a third consecutive year to $20.49 million, down 26%.

Its loss followed a profit of $40.