Diversified Energy reports higher profits despite weaker prices
Diversified Energy Company Plc
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16:30 19/12/24
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Diversified Energy on Friday reported increased half-year profits as its hedging policy and higher production offset weaker oil and gas prices.
The company said adjusted core earnings rose 26% to $283m, despite a 48% revenue decline to $487m for the six months to June 30 as the average realised sales price fell 52%.
Reporting by Frank Prenesti for Sharecast.com