Monday 31 January 2011

UAE Dana Gas swings to Q4 profit, beats analysts view - Maktoob News

UAE-based Dana Gas , the Gulf's only listed natural gas company, reported a higher-than-expected quarterly profit, helped by higher production.

Dana Gas, which owns assets in Egypt, made a fourth-quarter net profit of 59 million dirhams ($16.07 million), Reuters calculated from previous financial statements.

It posted a loss of 193 million dirhams a year ago after being hit by exploration write-offs and impairment provisions.

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