Shares in Cairn Energy were up on the FTSE 100 in morning trading after the group doubled its full year pre-tax profit.

Group revenue in the period increased from $234 million to $1.6 billion. Pre-tax profit rose from $53 million to $1.1 billion.

The group said that Cairn India had net cash of $217 million while its Capricorn arm reported net cash of $187 million.

Gross operated production rose 70 per cent during the year to just under 131,000 barrels of oil per day.

By 09:00 shares in Cairn Energy were up 1.43 per cent on the FTSE 100 to 425.70 pence per share.