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FINANCIAL NEWS
Abu Dhabi’s Adgas says 2011’s profits jump 34%
17 Apr 2012
(MENAFN) Abu Dhabi Gas Liquefaction Company (Adgas) said that net income in 2011 jumped by around 34 percent to USD1.1 billion, from USD850 million a year earlier, reported Emirates 24/7.
The company added that the increase in profits was driven by higher gas prices and a surge in the firm’s output.
It also said that total sales leaped 23.5 percent to USD5.71 billion, compared with USD4.62 billion recorded in 2010.
It is worth noting that Adgas is one of the world’s largest gas companies, and an ADNOC-affiliated firm.
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