Business news

    NuEnergy Gas (ASX:NGY) announces full year results

    Article Image

    NuEnergy Gas (ASX:NGY) announced financial results for the full-year ended 30 June 2022.

    The principal activities of the Group are exploration, appraisal and development of hydrocarbons with a primary focus on coal seam gas also know as coal bed methane.

    The Company does not currently have any cash generating business units or assets, nor does it have a Board approved dividend policy. No dividends were paid or proposed to be paid to members during or since the end of the financial year.

    There were no options granted during the financial year to subscribe for unissued shares of the Company.

    No shares have been issued during the financial year by virtue of the exercise of options to take up unissued shares of the Company.

    The net consolidated loss after income tax of the Group attributable to owners of the Company for the financial year was $1,905,199 (2021 profit: $6,657,443).

    As at 30 June 2022, the Group has cash and cash equivalents of $3,501,723 (2021: $1,712,456) and net assets attributable to owners of the Company (Net Assets) of $26,748,326 (2021: $26,155,051).

    Following the announcement the company?s share price rose 4.761%.

    Disclaimer

    Grafa is not a financial advisor. You should seek independent, legal, financial, taxation or other advice that relates to your unique circumstances. Grafa is not liable for any loss caused, whether due to negligence or otherwise arising from the use of, or reliance on the information provided directly or indirectly by use of this platform.

    Publisher
    Grafa