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FINANCIAL NEWS
17% profit boost for Dana Gas in Q1
15 May 2013
(MENAFN) Dana Gas stated that its first quarter’s net profits increased by 17 percent to USD66 million compared with last year, reported Emirates 24/7.
Meanwhile, revenue from hydrocarbon sales reached USD152 million in the period.
However, the company’s revenues and gross profit fell in the quarter due to conservative cash policy towards capital spending, in addition to impermanent postponement of Liquefied Petroleum Gas (LPG) production in Iraq’s Kurdistan Region.
It’s likely that the revenues and gross profits will increase when recommencing the LPG output in Kurdistan this June.
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