Circle Oil sees revenue jump by 26%

Limerick-based exploration company Circle Oil has reported a 26% jump in revenue as the company benefited from higher oil and gas prices and a rise in cash from its Egyptian operations.

The company reported revenues of $73.3m (€56.4m) for the 12 months ending Dec 2012.

The exploration group said this helped push up operating profits by 41% to $28.2m, resulting in a pre-tax profit of $25.25m