Dana Gas First-Quarter Profit Falls on Absence of Year-Ago Gain - Bloomberg

Dana Gas First-Quarter Profit Falls on Absence of Year-Ago Gain - Bloomberg:



"Dana Gas PJSC (DANA), the energy company seeking payments for past production in Egypt and Iraq, said first-quarter profit slipped 32 percent from a year earlier when an asset sale boosted earnings.



Net income fell to 164 million dirhams ($45 million), from 241 million dirhams a year earlier, Dana Gas said in a statement today to the Abu Dhabi stock exchange. Sales rose 18 percent to 660 million dirhams.



Earnings a year ago benefited from a one-time gain of 143 million dirhams from the sale of shares in Hungarian refiner Mol Nyrt, Chief Executive Officer Patrick Allman-Ward said on a conference call today."



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