EDINBURGH (dpa-AFX) - Cairn Energy (CNE.L) reported Tuesday that its fiscal 2020 loss before tax from continuing operations was $117.4 million, compared to prior year's profit of $119.5 million.
Loss for the year attributable to equity holders of the Parent was $393.8 million, including loss on disposals of $276 million, compared to attributable profit of $93.6 million a year ago.
Loss per share attributable was 67.58 cents, compared to profit of 15.91 cents last year.
Operating loss was $67 million, compared to prior year's $155 million operating profit.
Revenue from continuing operations declined to $394.7 million from $533.4 million last year. Revenue from the sale of oil and gas was $324.5 million, down from $504.2 million.
Separately, Cairn Energy said it agreed to sell its interests in the UK Catcher and Kraken fields to Waldorf Production Ltd. for $460 million in cash plus additional contingent consideration.
Further, Cairn, together with Cheiron, announced the proposed acquisition of a portfolio of upstream oil and gas production, development and exploration interests from Shell Egypt NV and Shell Austria GmbH in the Western Desert, onshore The Arab Republic of Egypt for $646 million or $323 million net to Cairn.
In London, Cairn Energy shares were trading at 184.72 pence, down 7.04 percent.
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