TAQA revenues up 6% to AED4.1bn

ABU DHABI / WAM

Abu Dhabi National Energy Company (TAQA) announced Q1 total revenues of AED4.1 billion, an increase of 6 % on previous year (Q1 2016: AED 3.9 billion), for the period ended March 31, 2017.
Saeed Al Dhaheri, Acting Chief Operating Officer, said, “After the completion of our two-year transformation programme, I am pleased to announce a return to profit for the first quarter. The transformative cost reduction initiatives are now sustainably embedded across the organisation and with the balance sheet stabilised, we are now well positioned to secure future growth as market conditions stabilise and improve.”