Trinidad and Tobago NGL Limited has recorded a profit of $512.8 million, compared with $6.4 million in 2020.
The company’s annual report was published to TTNGL’s website on April 30th.
According to the Chairman’s Report, TTNGL’s improved performance was driven by a higher share of profit from Phoenix Park Gas Processors Limited (PPGPL). PPGPL recorded a profit after tax of TT$545 million at year end 2021, which constituted a 366.6% improvement when compared to TT$116.8 million for the corresponding period of 2020.
TTNGL Chairman, Conrad Enill, remarked that PPGPL is well positioned to mitigate the uncertainties of the current economic landscape through a robust strategic plan that proposes to diversify its current markets and to seek out new territories of operation, while strengthening its indigenous performance for stakeholders.