Ithaca Energy Reports Pre-tax Profit in Q3, Net Profit Soars

Financial Performance: Ithaca Energy reported a profit before tax of $154.6 million in Q3, a significant turnaround from a loss of $5.7 million the previous year, with net profit rising to $98.3 million from $29.0 million.

Production Guidance: The company reaffirmed its production guidance for fiscal 2025, targeting 119 - 125 kboe/d, although production is expected to trend towards the lower end due to an extended shutdown.

Dividends and Shareholder Returns: Ithaca Energy announced a second interim dividend for 2025 of $133 million, equating to $0.0804 per share, scheduled for payment on December 18.

Market Reaction: Following the earnings report, Ithaca Energy shares experienced a slight decline of around 0.2%, trading at 233.50 pence on the London Stock Exchange.