United Energy Group (HK:0467) has released an update.
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United Energy Group Limited reported a turnover increase of 35.6% in the first half of 2024 compared to the same period in 2023, but saw a significant drop in gross profit and profit for the period by 25.9% and 39.3%, respectively. Despite the decrease in profitability, the company’s total assets and equity attributable to owners of the company grew by 5.8% and 7.6%. The mixed financial performance was accompanied by a varied production output, with a decrease in Pakistan assets and an increase in Middle East and North Africa (MENA) assets.
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