STOCK WATCH

THE North Sea oil and gas firm Serica celebrated a surge in profits last year, after a series of acquisitions which industry analysts have hailed as ‘transformational’.

Serica bought interests in the Bruce, Keith and Rhum fields in the North Sea, and saw its profits jump 337pc to £57.3m.

Chief executive Mitch Flegg said the firm was still on the lookout for new opportunities after a year of ‘incredible achievement’. Shares climbed 22.8pc, or 26p, to 140p.