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¤7m profit for Circle oil

IRISH oil and exploration group Circle Oil recorded a net profit of $10.36m (€7.23m) last year.

Last year saw Circle record its first ever full-year operating profit, of $12.6m (¤14.2m) after the results outlined it was hit with a loss of $13.5m (¤15.2m) in 2009.

The company's management said that last year was "a milestone year" that included a successful share placing.