Jul 2013 Financial News

NGC declares $3.9b in profits for 2012

Jul 12, 2013

National Gas Company (NGC) has declared an after-tax profit of $3.9 billion for the year ending December 31, 2012, according to an advertisement published in yesterday’s Business Guardian.
Last year’s profit was down slightly from the $4.6 billion the company reported in 2011.

The company, which is 100 per cent owned by the State, declared sales of $18.4 billion in 2012, compared with $18.9 billion in 2011. NGC generated over $5 billion in cash in 2012 and at the end of last year had $12.3 billion in cash and cash equivalents. The company generated $4.2 billion from its operating activities and $2.5 billion from its investments in Atlantic LNG and Phoenix Park Gas Processors, the natural gas liquids producer.

At the end of 2012, NGC estimated that its total assets were $38 billion, while its liabilities amounted to just over $12 billion, leaving the company with equity totaling nearly $26 billion.


Source:
Trinidad Guardian
Friday July 12, 2013

http://www.guardian.co.tt/business/2013-07-11/ngc-declares-39b-profits-2012