| National Gas Company (SAOG), is pleased to disclose the summarized consolidated results for the year ended on 31 December 2017 |
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Values in RO |
| Particulars |
December 31, 2017 |
December, 2016 |
| Group |
Parent |
Group |
Parent |
| (Un-Audited) |
(Un-Audited) |
(Audited) |
(Audited) |
| Total Income |
78,789,372 |
12,696,835 |
61,371,856 |
12,286,073 |
| Total Expenses |
(75,536,178) |
(11,978,091) |
(57,324,137) |
(11,685,584) |
| Net Profit After Income Tax |
3,253,194 |
718,744 |
4,047,719 |
600,489 |
| Non-Controlling Interests * |
1,082,475 |
- |
1,251,453 |
- |
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| Attributable to Equity Holders of National Gas Co. : |
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| Net Profit after tax |
2,170,719 |
718,744 |
2,796,266 |
600,489 |
| Earning Per Share EPS (Baizes)** |
0.036 |
0.012 |
0.047 |
0.010 |
| Net Assets |
18,933,709 |
16,190,941 |
17,041,664 |
16,375,092 |
| Net Assets Value Per Share |
0.316 |
0.270 |
0.284 |
0.273 |
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| * Non-controlling Interests represent profit / loss not attributable to the equity holders of National Gas Company. |
| ** Post transfer of the UAE business to NGC Energy LLC, Umm Al Quwain, the company had initiated the liquidation procedures for its fully owned subsidiary "NGC Energy FZE" located in Fujairah Free Zone. The liquidation process has been completed and profits amounting to RO 501,214/- (gros before tax) have been transferred to the Parent company National Gas Company SAOG on the closure of the subsidiary. The Company had also initiated the liquidation of its joint venture NGC Buzwair LLC, the liquidation process whereof is still underway. A loss of RO 4,735/- (gros before tax) has been considered in the books of accounts. |
| *** The paid up share capital as at 31 December 2016 was RO 5.5 million which is increased to RO 6.0 million after a bonus share issue approved by the shareholders in March 2017. |
| **** Previous year figures have been re-grouped as per the current groupings. |
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| No of Equity Shares |
60,000,000 |
60,000,000 |
60,000,000 |
60,000,000 |
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