TTNGL Condensed Interim Financial Statements
For the Six Months Ended 30 June, 2017
I am pleased to report that for the fi rst half of the year, 1 January to 30 June 2017, Trinidad and Tobago NGL Limited (“TTNGL”/”Company”) recorded profi t after tax of $91.5 million. This represents a 26.7% improvement over the corresponding period in 2016 when $72.2 million was recorded. Earnings per share for the period were $0.59, compared to $0.47 for 2016. This represents an increase of 25.5%. The improved performance was driven by higher share of profi t from TTNGL’s investment in Phoenix Park Gas
Processors Limited (“PPGPL”). The continued challenge at PPGPL of lower natural gas volumes to Point Lisas for processing was mitigated by improved Mont Belvieu product prices and company-driven initiatives. Product prices for 2017 were 33.5% higher than the corrresponding period in 2016.