Chagala Group Limited Half-year Report (3751P)

TIDMCGLO

RNS Number : 3751P

Chagala Group Limited

31 August 2017

Date - August 31, 2017

Chagala Group Limited

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

Interim results for the six months ended 30 June 2017

Chagala Group Limited, the London-listed Investor in specialist services and facilities provider to the oil and gas industries in Kazakhstan (symbol: CGLO), is pleased to announce today its unaudited interim results for the six months ended 30 June 2017.

Financial Highlights:

In thousands of US Dollars

   -     Total revenue decreased to $9,554 (HY2016: $10,027) 
   -     Operating Profit decreased to $2,085 (HY2016: $2,240) 
   -     Profit before income tax increased to $1,619 (HY2016: $1,493) 
   -     Total Assets of $94,640 increased from 31 December 2016 ($92,074) 

Operational Highlights:

- Awarded hotel agreement for long term accommodation in Uralsk by one of the largest companies involved in the development of gas condensate fields in Kazakhstan.

Svetlana Mendesh, Chief Financial Officer said:

At a time when global uncertainty, economic slowdown in the region and low oil prices continue to challenge the industry we operate in, we see the stable results and expect the second half of the year to build on the first and deliver improved results. Our performance in HY 2017 and the stability of our growth continue to make Chagala Group a partner of choice for shareholders and clients.

For the next half of the year we are going to continue our strategy - to focus our energy on maximizing our ever-expanding potential and maintaining our cutting-edge competitive advantage.

The interim report is also available for viewing at www.chagalagroup.com

Please see more details in the attachment.

http://www.rns-pdf.londonstockexchange.com/rns/3751P_1-2017-8-31.pdf

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For additional information please contact the Chagala Group at:

Telephone: [phone]

Email: [e-mail]

This information is provided by RNS

The company news service from the London Stock Exchange

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August 31, 2017 02:01 ET (06:01 GMT)