Chagala Group Limited Full year results for the year ended 2016 (7247D)

TIDMCGLO

RNS Number : 7247D

Chagala Group Limited

28 April 2017

Date - April 28, 2017

Chagala Group Limited

('Chagala' or 'the Company' or 'the Group')

Full year results for the year ended 2016

Chagala Group Limited, the London-listed investor in specialist services and facilities providers to the oil and gas industries in Kazakhstan (symbol: CGLO), is pleased to announce today its annual results for 2016.

 
 Financial Highlights       2016   2015 
  Figures in USD 
  million 
 Revenue                    20.3   23.5 
      Room and rent 
       revenue              15.6   17.5 
       Food and beverage     2.6    3.5 
       revenue 
        Other revenue        2.1    2.5 
 EBITDA                      7.7    8.0 
 Operating profit            4.4    3.8 
 Net profit                  0.8    1.9 
 Total Assets               92.1   92.9 
 

Svetlana Mendesh, Group's Chief Financial Officer, said

"We are very glad that, despite the many challenges in the local and global economy and difficult market situation, the Group investments results have been in line with its projections and local market trends. Low oil prices, the devaluation of the national currency in the investments' region and difficulties with the implementation of major oil and gas projects have led to a reduction in projects and staff. However, the investments managers have enabled us to maintain strong EBITDA through conscientious cost control and continuous improvements in operating standards and business processes. On behalf of the Group, I would like to thank our investments' clients, partners and staff for their support and trust during this tough period."

END

For additional information please contact the Chagala Group at:

Telephone: [phone]

Email: [e-mail]

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April 28, 2017 09:01 ET (13:01 GMT)