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Egdon Resources narrows losses on cost cuts; guides annual output lower
StockMarketWire.com
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Exploration and production company Egdon Resources narrowed its annual losses as cost cuts offset a fall in revenue.
For the six months ended 31 January 2021, pre-tax losses narrowed to £1.04 million from £3.24 million year-on-year as revenue fell to £0.424 million from £0.675 million.
The company attributed the fall in revenue to declining production and weaker prices.
Looking ahead, the company expects production to fall to 110-to-130 boepd from 145 boepd.
At 9:07am: (LON:EDR) Egdon Resources PLC share price was 0p at 1.65p
Story provided by StockMarketWire.com
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