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Sefton Resources – yet more piss poor numbers and jam tomorrow

Tom Winnifrith Tuesday 11 September 2012

 

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Oil producer Sefton Resources (SER) today announced its half year results which were – as is normally the case with this AIM listed penny share dreadful, pretty piss poor. A marginal increase in production and in the oil price meant that revenues for the six months to June 30th increased from $2.028 million to $2.283 million but since the cost of sales increased by more, the gross profit actually fell from $1.421 million to $1.338 million. What is the heck of pumping more oil if it cuts your profits?

After the predictably high central costs

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Tom Winnifrith is the editor of TomWinnifrith.com. When he is not harvesting olives in Greece, he is (planning to) raise goats in Wales.
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