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FINANCIAL NEWS
UAE- Taqa reports 26% rise in Q2 profits
10 Aug 2010
(MENAFN) Abu Dhabi National Energy Company (Taqa) said that its fiscal second quarter net profit rose 26 percent on year to $46.7 million on the back of higher oil and natural gas prices.
For the first half of the current financial year, Taqa’s net profit rose a whopping 160 per cent on year to $125.2 million, while revenue for the same period rose 16 percent on year to $2.7 billion.
During the quarter ended June, Taqa bought a 40 percent stake in Oman’s Sohar Aluminium for about $400 million.
The aluminium smelter and accompanying 1,000 megawatt power plant gives Taqa access to a new market and complements its existing footprint in the Middle East and North Africa (Mena) region.
More News
08 Apr 2026
BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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