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Kibo Energy PLC - Galway, Ireland-based energy company - Posts revenue of GBP305,384 in the six months to June 30, compared to none a year ago. Pretax loss widens to GBP2.0 million from GBP1.8 million, as administrative expenses increase by 9.1% to GBP1.2 million from GBP1.1 million a year ago.
Has confirmed the appointment of former Chief Financial Officer Pieter Krugel as chief executive officer of Kibo's investee Mast Energy Developments PLC.
Kibo adds that economic activity remains high despite the ongoing war in Ukraine, rising inflation and increased interest rates adding to uncertainty across industries. "This has yielded positive results for Kibo in terms of the development of its ongoing and new projects in the first half of 2022", it notes.
Current stock price in London: 0.17 pence, down2.8%
12-month change: down 25%
Current stock price in Johannesburg: 0.07 pence
12-month change: flat
By Xindi Wei; xindiwei@alliancenews.com
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