SINGAPORE: Mainboard-listed Loyz Energy, an oil exploration and production company, announced that its profit for the third quarter ended March 31 stood at US$100,000, a turnaround compared to the same period last year when it posted a loss of US$3.1 million.
Its revenue also increased sharply to US$4.7 million, an increase of 115 per cent over the US$2.2 million it posted in the same quarter last year.
This translated into an overall recovery in the nine months ended March 31. Profit for that period stood at US$818,000, compared to the loss of US$3.5 million the group posted in the same period last year, while revenue increased 80 per cent to US$17.2 million.
Loyz Energy said its revenue came mainly from its sale of crude oil in Thailand, where it has a 20 per cent share in its concessions, amounting to 99,977 barrels.
