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Great Eastern Energy earnings drop on lower energy prices, Covid-19 disruptions

By BFN News | 08:59 AM | Tuesday 02 June, 2020


Coal bed methane company Great Eastern Energy reported a fall in earnings as revenue was hurt by lower energy prices and Covid-19 lockdowns in India. For the 12 months ended 31 March 2020, earnings (EBITDA) fell to $20.95m from $27.87m as revenue slipped to $36.25m from $40.33m. LNG prices fell to $10.27 per mmbtu from $10.43 per mmbtu. 'Following the year end, COVID-19 had an adverse impact on Sales in April and into May 2020. The company has taken appropriate measures to optimize costs and increase efficiencies,' the company said. At 8:59am: (LON:GEEC) Great Eastern Energy Corporation share price was +0.5p at 17.5p Story provided by StockMarketWire.com

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