Ithaca Energy reported first half profit before tax of $513.4 million compared to $189.4 million, last year. Loss for the period was $217.5 million reflecting primarily a one-off, non-cash deferred tax charge of $327.6 million due to the two-year extension of EPL to 31 March 2030. Basic loss per share, in cents, was 13.2 compared to profit of 10.5. Adjusted net income increased to $128.7 million from $124.7 million.
First half average production was 123.6 kboe/d compared to 53.0 kboe/d, prior year. For fiscal 2025, the company's production guidance range was upgraded to 119-125 kboe/d from 109-119 kboe/d.
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Business News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.