Ithaca Energy in profit boost

Ithaca Energy yesterday posted a 160 per cent jump in annual profit, as output was up 34 per cent to 5,862 barrels of oil equivalent a day. Pre-tax profit came in at $93.4m (£61.6m), up from $35.9m in 2011. It ended the year with proved and probable reserves of 51.9m barrels of oil equivalent, up from 50.3m barrels.