Cue Energy

Despite the impact of higher oil prices, revenue at Cue Energy fell 14% to $19.9m. Net profit tripled to $3.9m, driven by foreign currency gains of almost $3m. Earnings per share similarly rose to 0.57 cents. Operating cash flow, down 10% to $23.3m, was deployed repaying debt which has now shrunk to $2.8m. Cue now has over $50m cash in the bank, which will be useful with upcoming development and exploration work.

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