Scotland business

Ithaca Energy profits up 55% to £87m

Ensco 100 drilling unit Image copyright Ithaca
Image caption Ithaca Energy said profits were up to £87m from £56m

Aberdeen-based oil and gas explorer Ithaca Energy has reported a 55% increase in profits to £87m ($145m).

The company said the figure for last year was up from £56m in 2012.

Ithaca said it had made "significant progress" on its Stella field development in the North Sea.

Chief executive officer Les Thomas said: "We continue to look for new North Sea opportunities to drive additional longer-term shareholder value."

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