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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
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BBK discloses its financial results for the first quarter ended 31st March 2025
25 Mar 2025
BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
12 Mar 2025
Mr. Yaser Alsharifi completes Harvard Business School Presidents’ Program in Leadership
19 Feb 2025
Bank of Bahrain and Kuwait BSC announces the transfer of HSBC Middle East, Bahrain Retail Business to BBK.
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