The financial statements of the Emirati company Dana Gas showed that the company had lost its losses in the first nine months of this year compared to the profits of the same period in 2019.
According to the company's results for the Abu Dhabi Stock Exchange, today, Thursday, losses for the period amounted to 1.39 billion dirhams, compared to profits of 521 million dirhams for the same period last year.
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> Revenues declined during the comparison periods by about 27%, while the provision for a decrease in the value of oil and gas assets increased to reach 1474 million dirhams, compared to 220 million dirhams during the same period. From the previous year.
The results for the same period of the previous year included revenues of 491 million dirhams as a result of recording contractual performance-related benefits of 260 million dirhams, and these cash benefits related to specific shareholders In Pearl Petroleum with the original share sale agreements, for nothing during the current period.
and the company’s results indicated that the increase in provision for a decrease in the value of financial assets amounted to 29 million dirhams, compared to 4 million dirhams during the first nine months of 2019.
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The company’s results showed an increase in financing costs 9% in the first nine months of 2020, to reach 48 million dirhams, compared to its value in the same period last year of 44 million AED.
