DONG Energy Q1 core profit falls, to cut costs - Reuters India

By
Viraj
on May 19, 2009 1:10 PM | | TrackBacks (0)
COPENHAGEN, May 19 (Reuters) - State-controlled Danish oiland gas group DONG Energy [DONG.UL] posted a 17 percent fall infirst-quarter core profit and said it was to cut costs by 350million crowns ($64 million) because of the global downturn.

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Earnings before interest, tax, depreciation and amortisation(EBITDA) fell to 2.65 billion Danish crowns ($482 million),mainly due to effects of timing differences in connection withbig fluctuations in market prices for oil, gas and coal. "In view of the economic recession, cost reductions with aneffect of 350 million crowns will be implemented in 2009 -- withincreasing effect in 2010-2011," DONG said on Tuesday.

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This page contains a single entry by Viraj published on May 19, 2009 1:10 PM.

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