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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




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