Dana gas ...impairment charge.
Dana Gas blames oil slump, impairment for Q4 loss
DUBAI, February 5, 2015
Abu Dhabi-listed Dana Gas reported a fourth-quarter loss on Thursday that the company blamed on lower oil prices and an impairment charge.
Dana Gas, based in Sharjah, one of the seven emirates in the UAE, made a net loss of Dh15 million ($4.08 million) in the three months to December 31, it said in a bourse filing.
This compares with a profit of Dh128 million in prior-year period.
Dana blamed the quarterly loss on a slump in oil prices as well as an impairment charge, but did not provide further details.
Dana's 2014 net profit was Dh457 million, down from Dh571 million in 2013. - Reuters