Loyz returns to the black with $1.57m net in Q2
CATALIST-listed Loyz Energy swung to a net profit attributable to owners of $1.567 million for the second quarter ended Dec 31, 2013, from a net loss of $1.245 million a year ago.
Revenue from continuing operations was $6.8 million, driven mainly by the recognition of deferred drilling revenue from the delivery of three wells in the United States: Schlak 3, Mansur 33-1-L and Mansur 33-1-N.
Overall administrative expenses in Q2 more than doubled from $990,000 last year to $2.29 million this year. Loyz attributed this to employee share-based payment expenses totalling $0.7 million and an increase in staff costs to $0.6 million from the expansion of operations in the US.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
iFast Q1 net profit surges on ePension unit performance
Suntec Reit Q1 DPU down 13% to S$0.01511 in absence of capital distribution
US: Wall St opens lower as Meta Platforms, economic data weigh
Sheng Siong Q1 net profit up 9.3% on higher revenue
Great Eastern chairman appeals for patience as shareholders fume over share price ‘disaster’
Changi Airport’s Q1 passenger movements surpass pre-pandemic levels