TT$210.6 million after tax profit
TTNGL Success Story Continues…
30th October, 2018
Trinidad and Tobago NGL Limited (TTNGL) continues to provide excellent returns for its shareholders and reaffirmed its portfolio position as a solid investment for the people of Trinidad and Tobago. This is borne out in the interim financial statements for the first nine months, ending 30 September, of 2018. During this period TTNGL has recorded an after-tax profit of TT$210.6 million, representing a 39.8% improvement over the corresponding 2017 period.
Increased share of profit from Phoenix Park Gas Processors Limited (PPGPL) is the major driver of TTNGL’s improved performance. PPGPL’s marketing strategy has allowed the company to benefit from price increases, coupled with the use of e- Auctions, a new initiative in the company’s procurement process. Additionally, continuing cost management initiatives and increased volumes being supplied for processing have enabled PPGPL to deliver exceptional value.