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Monday, 21 July, 2008, 00:40 GMT | more prices >>

Taqa profit ‘rises 174%’



By Upstream staff 

Abu Dhabi National Energy Company (Taqa) made a fourth-quarter net profit of 618.8 million dirhams ($168.5 million), up 174.16% from the year-earlier period, media sources said.

The company posted profit attributable to shareholders of 1 billion dirhams in 2007 compared with 484.96 million dirhams the year earlier, it said in a statement, without giving quarterly data.

Reuters calculated the fourth-quarter profit based on earlier financial data.

Taqa made profit attributable to shareholders of 225.71 million dirhams in the fourth quarter of 2006 and 381.20 million dirhams in the first nine months of 2007, according to financial data posted on the stock market regulator's website.

The company has been involved in a number of high-profile foreign acquisitions in recent months, notably of Canada's PrimeWest Energy Trust.


Thursday, 31 January, 2008, 06:39 GMT  | last updated: Thursday, 31 January, 2008, 06:39 GMT

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