Emeriti TAQA logs USD113m in net loss over Q3

12 Nov 2015

(MENAFN) TAQA, Abu Dhabi-based National Energy firm has recorded a gross loss in incomes that totaled to USD113.3 million over the three months to September period.

Additionally, this significant loss, which compares to a USD29.1 million in net profit through last year’s corresponding period, was mainly impacted by weak oil prices.

On a wider scale, TAQA registered overall losses of USD158.1 million through Jan-Sept as opposed to a profit of USD168.7 million reported for the same time frame in 2014.

However, there seem to be some good news as the company is ahead of its targeted annual savings of USD149.7 million in 2015, and USD408.2 million by the end of 2016.

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