Arab Today, arab today dno triples earnings prepares a buyback
Last Updated : GMT 19:37:02
Arab Today, arab today
Arab Today, arab today

DNO triples earnings, prepares a buyback

Arab Today, arab today

Arab Today, arab today DNO triples earnings, prepares a buyback

Oslo - Arabstoday

Norwegian oil company DNO more than tripled second-quarter core earnings and said it would buy back shares due to turmoil in the fin-ancial markets, lifting its stock price yesterday. DNO also said it had booked a key $104 million (Dh382 million) payment from its prize Tawke field in Iraqi Kurdistan for the second quarter. \"Given the ongoing sell-off and sharp declines in global securities, we have decided to invest available cash to capitalise on the undervaluation of the company\'s share price,\" chairman Bijan Mossavar-Rahmani said. DNO said the timing and the size of the buyback would depend on the \"market conditions\". Its shares were up 14 per cent to 4.96 crowns at 7.49am GMT. Article continues below DNO was originally due to publish second-quarter results on August 17 but published preliminary figures ahead of time. It said earnings before interest, taxes, depreciation and amortisation came in at 565 million Norwegian crowns (Dh380 million), up from 171 million a year ago. Expectations Arctic Securities analyst Trond Omdal said core earnings were \"mainly in line\" with his expectations. \"We agree with them that the share price is too low,\" he said. \"It does not take into account their extremely strengthened cash position or that they have received their first export payment.\" DNO said its cash position as of June 30 was 1.245 trillion crowns. Sales rose to 730 million crowns from 285 million in the same period last year, DNO said of its preliminary tally, while gross profit rose to 430 million from 129 million a year ago.  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today dno triples earnings prepares a buyback Arab Today, arab today dno triples earnings prepares a buyback

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today dno triples earnings prepares a buyback Arab Today, arab today dno triples earnings prepares a buyback

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today Italy regions back 'big bang' autonomy

GMT 07:10 2017 Monday ,23 October

Italy regions back 'big bang' autonomy
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Israel police detain 15 over campaign

GMT 14:19 2017 Monday ,23 October

Israel police detain 15 over campaign
Arab Today, arab today Maltese demand justice for murdered

GMT 06:08 2017 Monday ,23 October

Maltese demand justice for murdered
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Lost Australia diver swam miles

GMT 19:09 2017 Monday ,23 October

Lost Australia diver swam miles
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Tesla to build wholly-owned plant

GMT 07:55 2017 Monday ,23 October

Tesla to build wholly-owned plant
Arab Today, arab today EU raids automaker BMW

GMT 11:06 2017 Saturday ,21 October

EU raids automaker BMW
Arab Today, arab today Rogina happy for reactions to “The Flood”

GMT 09:30 2017 Friday ,20 October

Rogina happy for reactions to “The Flood”
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'

GMT 08:15 2017 Thursday ,19 October

Actress Mona Zaki praises husband’s role

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 06:07 2017 Sunday ,22 October

15,000 Under Fives Die

GMT 12:54 2017 Saturday ,21 October

Malaysia Airlines picks new CEO

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday