Tuesday, Island Oil & Gas Plc (IOG.L) reported profit before taxation of GBP 12.41 million in its preliminary results for the full-year 2008, compared with a loss before taxation of GBP 4.99 million in the last year. Earnings per share were GBP 0.1082 in comparison with a loss of GBP 0.0613 in the previous year.
Operating profit averaged GBP 13.11 million, compared to an operating loss of GBP 4.45 million in the prior year. Annual revenue increased to GBP 2.25 million from GBP 1.76 million, a year earlier. Gas revenue improved for the third year in succession and represented a 28% increase year on year.
The company said that this year's profit relates mainly to the sale of Island Netherlands BV, a wholly owned subsidiary, and to the sale of a 10% interest in the Amstel oil field development in the Netherlands to Encore Oil.
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April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.