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14/05/2013 09:15 AST
Dana Gas PJSC, the Middle East’s largest regional private sector natural gas
company, announces its financial results for the first quarter ended 31 March 2013
with a net profit after tax of AED 241 million (US$ 66 million), an increase of 17% as
compared to AED 206 million (US$56 million) in Q1 2012. Revenue from the sale of
hydrocarbons during Q1 2013 was AED 557 million (US$ 152 million).
Revenues and gross profit declined during Q1 2013, owing to a conservative cash
policy towards capital expenditure and a temporary suspension of Liquefied
Petroleum Gas (“LPG”) production in Kurdistan Region of Iraq (“KRI”).
Revenues and gross profits are expected to increase as new discoveries in Egypt
are brought to production and upon resumption of LPG production in Kurdistan in
June 2013 following completion of repairs to the LPG loading bay.
Click here to read complete press release
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The Abu Dhabi index rose 0.
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Ticker | Price | Volume |
---|---|---|
SABIC | 114.77 | 5,915,941 |
Ticker | Price | Change |
---|---|---|
PETRORABIGH | 25.42 | 0.41 (1.63 |
BAHRI | 31.56 | -0.29 (-0.92 |
TAQA | 0.85 | 0.00 (0.00 |
ADNOCDIST | 2.64 | 0.07 (2.72 |
ALDREES | 26.08 | -0.31 (-1.18 |
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