Geo Energy Resources Reports Higher Q3 Profit, Revenue Up; Shares Down 5%
Geo Energy Resources logged $20.6 million in profit in the third quarter, compared with $3.2 million a year earlier, according to a Thursday filing with the Singapore Exchange.Basic earnings per share moved to SG$0.0138 from SG$0.0034 year over year.For the third quarter ended Sept. 30, revenue was $208.3 million versus $136.6 million in the year-ago period.The board recommended an interim dividend of SG$0.0025 per share for the quarter ended Sept. 30, payable on Dec. 1 to shareholders on record as of Nov. 24.Shares of the energy company slid nearly 5% in Thursday trading.