British oil and gas company JKX Oil&Gas last year earned $million net profit of 22.21, improving the figure of 2018 by 45.6%. The aggregate profit JKX taking into account the positive exchange rate differences in 2019 amounted to $44.1 million versus $4,24 million loss in 2018.
Data are presented in the annual report of the company on the London stock exchange, reports UBR.
Provided the indicator was due to the increase in revenue growth to $101,74 million income exceeded the bar of 100 million for the first time in 2014, as compared to 2018 was higher by 9.6%. It happened despite lower gas prices to Ukraine by 33%.
In addition, in February JKX repaid all its debt obligations on bonds that also became a precondition for financial stability is emphasized in the annual report. For the first time in 10 years JKX has no debt, the document says.
Also in the report as a positive impact on the company decision States recent sale of Hungarian subsidiary Folyopart Energia KFT (KFT Riverside Energy) that was made for a concentration of activities in Ukraine and Russia. The deal made JKX $2.9 million
For the whole year JKX produced 20% more hydrocarbons than 2018. In their fields the company on average produced 10 of 748 barrels per day. The increase was due to the Ukrainian subsidiary of JKX Poltava gazanaftavai company (PPC), which increased production by 52%. On the Russian assets of the company production remained at the level of 2018 and averaged 5 158 barrels per day.
The largest stake in JKX in the amount of 27,54% owned by Eclairs Group of Igor Kolomoisky and Gennady Bogolyubov, Cascade Investment Fund Vitaly Homutynnik owns 19,97% of shares of the company. Also shares in JKX have Neptune Invest & Finance Corp — 12,98%, Keyhall Holding Ltd.— Of 11.45% and Interneft Ltd.— Of 6.16%.