New Times Energy recorded revenue of 10,403 million and profit of 215 million for the first half of 2022
- Written by The Bulletin
Highlights
Financial Highlights
HONG KONG SAR - Media OutReach - 26 August 2022 - New Times Energy Corporate Limited (“the Company” or “New Times Energy”, together with its subsidiaries, the “Group”, HKSE stock code: 166) announced its annual results for the six months ended 30 June 2022.
- Recorded revenue of HK$10,402.8 million, representing a growth of 111.1% YOY
- Recorded a profit of HK$214.9 million, the turnaround in the Group’s profitability was primarily attributable to the operating profits generated by NTEC, the Group’s wholly owned Canadian oil and gas subsidiary, and higher energy commodity prices during the period
- Earnings per share were HK2.45 cents
- Operates over 800 active wells in Canada with current average daily oil and gas production of over 12,700 boe per day (95% natural gas)
- The Group has set up vertical farming operations at Discovery Park and it is expected to commence operations in 2023
- The Group is exploring ways to work with local authorities and governing bodies to achieve the common goal of net zero emissions, through eco-investment opportunities such as Blue & Green Hydrogen and Carbon Capture, Utilization and Sequestration
Financial Highlights
| | Six months ended 30 June | ||
| HK$ ‘000 | 2022 | 2021 | Change |
| Revenue | 10,402,767 | 4,928,637 | 111.1% |
| Gross Profit | 294,881 | 5,421 | 5,339.6% |
| Profit (loss) for the period | 214,868 | (21,681) | - |
| Basic earnings (loss) per share (HK cents) | 2.45 | (0.25) | - |
HONG KONG SAR - Media OutReach - 26 August 2022 - New Times Energy Corporate Limited (“the Company” or “New Times Energy”, together with its subsidiaries, the “Group”, HKSE stock code: 166) announced its annual results for the six months ended 30 June 2022.
