The Cash Collection problem still persists
Dana Gas reported 9M 2016 and Q3 2016 revenues of US$280m and US$102m as compared to revenues of US$324m and US$93m in the same period in 2015. The Company booked a third quarter and nine months net profit of US$13m and US$26m as compared to a net loss of US$9m and a gain of US$10m in the corresponding periods in 2015. The Group’s Q3 2016 production was 69,400 barrels of oil equivalent per day (boepd), a 14% increase from 60,800 boepd in Q3 2015. The total collections for the third quarter and nine months period were US$48m and US$147m, respectively. Egypt’s collections for the nine months were US$69m, representing 77% of total revenues over the period. In Kurdistan Region of Iraq (KRI), collections stood at US$64m, representing 121% of the total revenues for the period. The Company’s share of the KRI’s receivables balance was down to US$722m as of 30 September, 2016 (Q2 2016: US$726m).
AlphaMena is the MENA stocks leader in independent equity research, covering 142. MENA securities spanning across 19 sectors and 8 countries relaying on a team of 11 analysts. The breadth of coverage allows AlphaMena to formulate a coherent view on markets, sectors and to highlight the best investments in Mena zone using a robust homogeneous and transparent methodology, enabling pure and pertinent comparisons based on financial and extra-financial criteria.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.