Linc subsidiary posts loss

LINC Energy's wholly owned subsidiary Linc Energy Resources has smashed its year-on-year revenue with a 64% increase in financial year 2013 – but suffered a net loss of $4 million on the back of a $2 million profit in FY2012.

The Houston-headquartered subsidiary had a strong year of revenue on the back of increased oil production and sales.

The company took $121.4 million in revenue for FY2013, up from $56.