BG Group’s profits gush ahead of forecasts
BG Group’s profits gush ahead of forecasts: 8 May 2015
UK energy company BG Group has reported forecast-busting quarterly earnings, as it prepares for a £55bn takeover by larger rival Royal Dutch Shell.
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BG Group’s profits slide ahead of Shell deal: RTE NEWS: Friday 8 May 2015
British energy firm BG Group, facing a massive takeover by Royal Dutch Shell, announced a slump in first-quarter profits today in the wake of sliding oil and gas prices.
Profit after tax tumbled 78% to $240m (€214m) in the three months to the end of March compared with $1.11 billion in the first quarter of 2014, BG Group said in a statement.
Revenue dropped 23% to $3.82 billion, “reflecting a significant fall in realised commodity prices”, it added.
Royal Dutch Shell last month announced a takeover of BG Group worth £47 billion, as the pair seek to consolidate their positions in a sector battered by sliding prices.
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