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Dana Gas, a company listed in the United Arab Emirates, recorded a nine-fold increase in net income in the second quarter of 2019, to 385 million AED compared to the same period of the previous year.
Second quarter revenues increased 6% to AED 451 million for the same period.
Profit increased 5-fold to 513 million AED and turnover increased 3 percent to AED 887 million.
The company said in a press release that the reason for the significant increase in profits during this period related to the realization of contractual benefits was related to the performance of 260 million AED, and to these cash benefits due to certain shareholders in the "Pearl Petroleum" contracts for the sale of the original shares, operating expenses increased by 187% to reach 253 million of AED in the first half of 2019.
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