UAE’s Dana Gas net profit rises 15% in FY15

Abu Dhabi-listed Dana Gas’ net profit for fiscal year 2015 rose 15 percent year-on-year (YoY) to AED 528 million.

Gross revenue dropped 39 percent YoY to AED 1.5 billion during fiscal year 2015, while gross profit fell 58 percent YoY to AED 463 million. The company attributed the difference to a steep decline in gas prices, as well as lower production in their Egypt facilities.

Shares for the energy company closed two percent higher at AED .51 on Sunday.