Abu Dhabi-Mubasher: Abu Dhabi National Energy Company (TAQA) posted a 77% decline in its quarterly losses, according to a bourse statement.
Losses reached AED 861 million ($234.42 million) in the fourth quarter of 2015, compared to AED 3.76 billion ($1.02 billion) in the fourth quarter of 2014.
Annual losses declined 40% to AED 1.8 billion ($489 million) in 2015, compared to AED 3 billion ($817 million) in 2014.
Loss per share (LPS) declined to AED 0.2 in 2015, compared to AED 0.59.
The company also reduced our capital investment and cash costs by 52% and 21% respectively in 2015, compared to figures from 2014.
The shareholders will hold their meeting on 27 April to discuss the board’s recommendation to freeze dividends for 2015.
