British oil and gas company Tullow Oil Plc (TLW.L, TUWOY.PK, TUWLF.PK) posted an increase in pre-tax profit for the full year, with 2 percent growth in sales revenue on higher sales volumes.
For the year, profit from continuing activities before tax rose 4 percent to $1.116 billion from $1.073 billion a year ago.
However, profit from continuing activities after tax declined 3 percent to $666 million from last year's $689 million. Basic earnings per share was at 68.8 cents, down 5 percent from 72.5 cents last year.
Operating profit grew 5 percent to $1.2 billion from $1.1 billion. The increase was mainly due to increased sales volumes with the gain on the Uganda farm-down, largely offset by a significant increase in exploration cost write-offs and increased cost of sales.
Sales revenue grew by 2 percent to $2.344 billion from $2.304 billion a year ago.
In addition, the Board is proposing a final dividend of 8.0 pence per share, to be paid on May 16 to shareholders on the register on April 19.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.