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BG profits slip as weak prices eat into revenue

Reuters - UK Focus

LONDON, Feb 5 (Reuters) - Britain's BG Group (LSE: BG.L - news) , in its final results update ahead of its takeover by Shell (LSE: RDSB.L - news) , said on Friday core earnings fell 22 percent in the fourth quarter as low energy prices ate into profits.

The large gas producer reported earnings before interest, tax, depreciation and amortisation (EBITDA) of $1.43 billion for the fourth quarter. Its prized liquefied natural gas (LNG) trading division saw core earnings halve to $272 million.

BG confirmed it produced more than expected last year at 704,000 barrels of oil equivalent per day, beating its 2015 production target thanks to a ramp-up in output from fields in Australia, Brazil and Norway. (Reporting by Karolin Schaps; Editing by Alexander Smith)