UK's Trinity Exploration rises on higher 2022 profit

Trinity Exploration & Production

01/06/2023 08:51

** Shares of energy producer Trinity Exploration and
Production  TRIN.L  up 4.5% at 80.5 pence
    ** TRIN reports annual operating profit of $19 mln vs. $9.3
mln a year earlier 
    ** Reports FY rev of $92.2 mln vs $66.3 mln the prior year 
    ** Co commits to "modest but sustainable" dividend beginning
in third quarter of 2023 as part of new capital allocation
policy
    ** Adds capital allocation policy also includes scope for
share buybacks or special dividends
    ** Co headed for its best day since Sept 22 last year
    ** Including session gains, TRIN's stock is down about 21.3%
YTD


 (Reporting by Vaibhav Sadhamta in Bangalore)
 ((Vaibhav.Sadhamta@thomsonreuters.com;))