Nexus swings to FY profit
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Nexus Energy (NXS) said its share in gas discovery projects may position shareholders to benefit from exploration upside after reducing its cost base and swinging to a full-year profit.
The group swung to a net profit after tax of $17.5 million in fiscal 2013, compared with a $342.3 million loss the prior year.
Revenue was $52 million in the year, down 36% from the $80.7 million it posted in the previous corresponding period.
The group declined to pay a dividend.
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