Ithaca Energy reported a significant increase in first half profit before tax, reaching $513.4 million compared to $189.4 million the previous year. However, the company also reported a loss for the period of $217.5 million, largely due to a one-off deferred tax charge of $327.6 million. Despite this, adjusted net income rose to $128.7 million. First half average production also saw a substantial increase to 123.6 kboe/d from 53.0 kboe/d. Additionally, the company upgraded its production guidance range for fiscal 2025 to 119-125 kboe/d, up from 109-119 kboe/d.

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