Profits down at Mediterranean

Revenue at Mediterranean Oil & Gas for the six months to 30 June jumped to €8.5m (£5.23m) from €1.5m last year, although pre-tax profit fell to €2.1m from €2.9m. The cost of sales and administration expenses were the main reasons for the decline in profit. Over the half year gas production across all assets rose to 26.2m standard cubic metres, up from 4.74m over the first half of last year.