Cooper records loss but notes gas sales drive underlying profit by 41%

COOPER Energy took a A$12.6 million hit for the six months to December 2018, compared to a $19.8 million profit the during the first half of the year, but gas sales were up – offsetting a lower oil price – something the company expects to continue as it looks ahead over the coming months.

Cooper records loss but notes gas sales drive underlying profit by 41% Cooper records loss but notes gas sales drive underlying profit by 41% Cooper records loss but notes gas sales drive underlying profit by 41% Cooper records loss but notes gas sales drive underlying profit by 41% Cooper records loss but notes gas sales drive underlying profit by 41%

Cooper Sole Gas Project: Image obtained - Cooper Gas

 
Underlying profit was up 41% to $3.1 million from $2.2 million while EBITDA was also up 6% to $13.8 million from $13 million.