The Opposition will support the Anti-Gang bill if Government includes a two year “sunset” clause when the legislation will end and its effectiveness will be reviewed.
You are here
NEL profits down 22%
The state’s investment holding company, National Enterprises Ltd (NEL), yesterday declared after-tax profit of $203.9 million for the nine months ended December 31, 2016, which was $58.9 million or 22.4 per cent less than the comparative period last year.
NEL holds the State’s investment in TSTT, National Flour Mills, Tringen, as well as shares in Phoenix Park Gas Processors, Atlantic LNG Train I and in PowerGen.
In her chair’s statement, newly appointed Ingrid Lashley said: “These results were dampened by the impact of a decrease of $59.4 million or 26.9 per cent in the company’s share of profit of investee companies indicative of lower hydrocarbon-related prices and production and slower level of economic activity.”
Lashley added that the companies in the NEL portfolio have identified the core issues that will impact their profitability in the short to medium term and have been developing strategies and realigning resources to take advantage of potential opportunities.
User comments posted on this website are the sole views and opinions of the comment writer and are not representative of Guardian Media Limited or its staff.
Guardian Media Limited accepts no liability and will not be held accountable for user comments.
Guardian Media Limited reserves the right to remove, to edit or to censor any comments.
Any content which is considered unsuitable, unlawful or offensive, includes personal details, advertises or promotes products, services or websites or repeats previous comments will be removed.
User profiles registered through fake social media accounts may be deleted without notice.