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Octant Energy turns in fiscal 2015 net income of C$958,000

Last updated: 04:41 27 May 2016 AEST, First published: 23:41 26 May 2016 AEST

Eirik_Raude
Asset sales boosts income

Octant Energy (CVE:OEL) reversed a previous loss with net income of C$958,319 in the 2015 fiscal year, the company reported on Thursday.

That countered a loss of C$215,795 in the year to 31 December 2015.

The company achieved the reversal of fortunes after realising a gain on sale of property and equipment worth C$1.6mln.

Revenue was down at C$73,150 versus C$604,822 in the year before.

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