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FINANCIAL NEWS
UAE’s Dana Gas’ 2011 net profit up to USD137.7m
30 Jan 2012
(MENAFN) UAE’s Dana Gas said that as a result of a rise in production and higher oil prices, net profit in 2011 grew to USD137.7 million, compared with USD43 million a year earlier, reported Gulf News.
The company added that in the fourth quarter, profit reached USD40 million, moreover, in 2011, gross revenue surged 42 percent to USD688 million, whereas net cash generated from operations reached USD97 million.
It also said that it collected USD176.6 million from its share of receivables in Egypt and Kurdistan.
It is worth noting that Dana Gas faces a USD1 billion sukuk maturity in October.
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