The company that is trying to spearhead a shale gas industry in Britain suffered from a near halving of profits last year and has again criticised rules that restrict fracking. Pre-tax profits at Cuadrilla fell to £2.1 million last year from £4.1 million a year earlier, despite the company booking a £1.8 million profit from the part disposal of its stake in the Balcombe licence in West Sussex. The results come as Cuadrilla prepares to resume fracking at its site in Lancashire. The privately owned company, led by Francis Egan as its chief executive, was set up 12 years ago but only generated a maiden profit in 2017.
Times 29th July 2019 read more »