Sound Energy PLC on Wednesday said it swung a to a profit in the half-year to June 30.

The Morocco-focused gas developer posted an interim pretax profit of £8.6 million versus a loss of £5.8 million a year ago.

The turn to a profit came on the back of a reversal of impairments on development assets and exploration costs to a gain of £5.4 million compared to a loss of £3.7 million a year prior, Sound Energy reported.

Sound Energy shares were 0.9% higher at 1.40 pence each in London on Wednesday morning.

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