UAE’s Dana Gas Q2 net profit slides 45%

The energy firm that restructured a $920 million Islamic bond in April
UAE’s Dana Gas Q2 net profit slides 45%
(Photo for illustrative purposes only)
By Reuters
Sun 04 Aug 2013 11:49 AM

Dana Gas, the UAE energy firm that restructured a $920 million Islamic bond in April, said on Sunday that its second-quarter net profit fell sharply.

Dana made a net profit of AED100m ($27.2m), the company said in an emailed statement. This compares with AED181m a year earlier.

Revenues for the second quarter were AED528m, down from AED554m, it said.

Dana said its average overall production volume was up 5 percent to 61,700 barrels of oil equivalent per day in the second quarter.

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