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Zoltav Resources swings to profit despite lower H1 revenue

By BFN News | 09:38 AM | Thursday 29 October, 2020


Russian oil and gas company Zoltav Resources reported a 12% decline in revenue for the six months to the end of June 2020, on the back of lower prices and falling gas production. The company recorded RUB552 million ($8 million) in revenue for the period, down from RUB624 million in the first half of 2019. Despite the fall in revenue, the company made an operating profit of RUB87.2 million for the period, up from a loss of RUB105 million in H1 2019. This was aided by a 20% fall in operational, general and administrative costs, the company said. At 9:38am: (LON:ZOL) Zoltav Resources share price was 0p at 34p Story provided by StockMarketWire.com

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