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TGS 1st-half earnings surge on year

Transportadora de Gas del Sur SA, or TGS, reported a first-half net comprehensive income of 2.83 billion Argentine pesos, up from the 1.30 billion pesos noted during the first half of 2017.

Net revenues for the half amounted to 11.74 billion pesos, up sharply from the 5.48 billion pesos posted during the corresponding half a year ago. The firm's operating profit was pegged at 5.72 billion pesos compared to 2.26 billion pesos in the first half of 2017.

The production and commercialization of liquids segment and the natural gas transportation segment comprised the bulk of the firm's revenue.

Second-half revenue for the production and commercialization of liquids business was reported at 5.59 billion pesos, up from the 3.17 billion pesos in the first half of 2017. The natural gas transportation business second-half revenues amounted to 5.50 billion pesos compared to the 1.92 billion pesos of a year ago.

As of Aug. 8, US$1 was equivalent to 27.54 Argentine pesos.