PROFIT SHRINKS AS SUNLAND BATTLES ON
Written on the 28 August 2012
SUNLAND Group (SDG) has pledged financial discipline but will continue its share buy-back scheme and plans to push ahead with a new development at Mariner’s Cove on the Broadwater.
Meanwhile, Icon Energy has reported a $4.6 million loss for the financial year ending June 30.
Gold Coast-listed junior explorer (ASX: ICN) has trimmed its losses by about $1.4 million on the previous year.
It drilled five wells in the period, two at its Gippsland basin tenement, PEP 170, and three at ATP626P in the Surat Basin without major success.
The company’s shares are down 4.88 per cent to $0.195 in response to the results.