Icon Energy takes $1.88 million hit

LISTED Broadbeach resources explorer Icon Energy logged a $1.88 million net loss in the six months to December 31, the company revealed in an unexpected document drop 15 minutes after the market closed yesterday.

The company, which has long been searching for an investment partner to progress exploration of its gas tenements, again recommended no dividend be paid to shareholders. The group’s half-year loss compared to $2,292,691 lost in the same period last year.

Icon, which has also posted full-year losses for at least the past five years, chose the day of a Federal leadership challenge to release its full-year results in August.

The $7.8 million sale of their Broadbeach office failed to pull it into the black for 2017-18, for which it booked a $4.037 million loss for FY18.

The company is yet to release a guidance for FY19.