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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May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.