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Magnus Energy Still In The Red With FY15 Net Loss Of $2.7 Million
Daily Bulletin | 28 August 2015
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Magnus Energy announced a FY15 net loss of $2.7 million, an improvement of 67.3 percent from the $8.1 million loss last year.

Revenue experienced a dip of two percent to 444.5 million due to the recent plunge in global oil prices, leading to weaker demand in oilfield equipment supply and service segment.

A drop of 39.6 percent in operating expenses to $12 million was achieved due to reductions across all expense categories except for unrealized exchange loss, which increased a whopping 140.2 percent to $1.3 million, contributing mainly to the net loss of FY15.

Magnus Energy Group  -- -- --   
Business: Engages in energy-related biz involving oil & gas (O&G) eqmt distribution in APAC and coal mining in Indonesia.

Insight: Feb-19, 1H19 revenue jumped 20.3% with contributio... Read More

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