UAE's Dana Gas Q1 profit falls 32%

Company blamed on a one-off gain in the year-earlier period

Dana Gas reported a 32 percent drop in first-quarter profit on Thursday that the United Arab Emirates' company blamed on a one-off gain in the year-earlier period.

Dana made a net profit of AED164m ($44.65m) in the three months to March 31, up from AED241m a year ago, according to a statement to Abu Dhabi's bourse.

The company said it made a one-off gain of AED143m from an asset sale in the first quarter of 2013.

Related:
Companies

Market Performance

Dana Gas
0.55
0.0 0.0 (%)
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

Posted by: Ning Jin

Arabtec is listed on year 2004 with Market cap: Dh0.4bn, and now it's Market cap: Dh31.5bn. It is unbelievable ! They have built the world tallest tower. If you hold one IPO Share at Dh1.0 , today it will be worth Dh77.0, on other side look at Dana Gas is listed on year 2005. Investor bought at first day on DFM at Dh5.0 . Today it is Dh0.87, you hold it for 9 years, got minus 80% negative return, please do not waste your time and money!!!

All comments are subject to approval before appearing

Further reading

Features & Analysis
Power to the people in Saudi Arabia

Power to the people in Saudi Arabia

As Saudi Arabia fights to control surging electricity demand...

The upstream movement: Oil producers must invest to avoid another crisis

The upstream movement: Oil producers must invest to avoid another crisis

While oil producers continue to debate a reduction in output...

Saudi's Naimi's battles against Western 'greed' shine light on Aramco IPO

Saudi's Naimi's battles against Western 'greed' shine light on Aramco IPO

Former minister releases memoirs 'Out of the Desert'; reveals...

Most Discussed
sponsoredTracking