Pharos Energy Plc (PHAR.L) Wednesday said that it incurred loss in the first six months of fiscal 2025, compared to last year's profit. The results were affected by re-measurement charges. While revenue slightly rose from the year-ago period, the company lowered its production outlook for fiscal 2025.
The oil and gas exploration company posted net loss of $2.8 million euros or 0.7 cents per share in the first half of the year, compared to profit of $15.3 million or 3.6 cents per share in the same period last year. The company's results for the six-month period were impacted by re-measurements to the tune of $0.6 million.
During the first six months, pre-tax profit declined to $10.5 million from $33.6 million recorded in the corresponding period a year ago.
According to Pharos Energy, group revenue for the six-month period rose marginally to $65.6 million from $65.0 million in the previous-year period. The company's operating profit came in at $12.2 million in the half-year period, down from $35.2 million in the prior year.
Looking ahead, the company reduced its 2025 production outlook range to 5,200-6,000 boepd from the earlier 5,000 - 6,200 boepd, following the consistent production in Vietnam and lower than expected production in Egypt.
For comments and feedback contact: editorial@rttnews.com
Business News
December 26, 2025 08:42 ET Third quarter economic growth data from some major economies including the U.S. were the main news in this holiday shortened week. GDP growth and industrial production data from the U.S. helped to boost morale, while the consumer confidence survey results were less upbeat. In Europe, the quarterly economic growth data from the U.K. drew attention, while the minutes of the Australian central bank’s latest policy session was in focus in Asia.