Aminex cuts losses

ISEQ- and FTSE-listed oil and gas company Aminex cut its losses from $4.98m (€7.3m) to $2.86m (€4.2m) last year, the company announced today.

Total revenue of $5m (€7.3m) is 67% higher than 2005 revenue of $3m (€4.4m), mainly as a result of increased gas sales in the US and sales of oilfield equipment from the UK. Oil and gas revenue comprises approximately 50% of total revenue in 2006 compared with 61% in 2005.