Harbour Energy Bounces Back to Profitability Despite Revenue Dip

Harbour Energy has returned to the black on Thursday despite the largest UK-based North Sea oil and gas firm suffering a dip in revenue and cratered free cash flow. The producer had been a victim of the energy profit levy imposed off the back of energy price spikes in 2022, with the 75 per cent tax rate hitting its profit for much of 2023. But the FTSE 100 constituent posted a return to profitability in the six months to June 30, with profit after tax rising to £44.9m, up from a loss of £8m in the first half of 2023. The profit jump…