BG profits hit by impairment charge

Shares in BG Group took a knock on Thursday after the natural gas giant reported a steep decline in profit for the second quarter, dragged down by a non-cash post-tax impairment on its US shale gas assets.

Shares in BG Group took a knock on Thursday after the natural gas giant reported a steep decline in profit for the second quarter, dragged down by a non-cash post-tax impairment on its US shale gas assets.

The $1.3bn charge, which came after the company lowered its long-term expectations for gas prices, reduced pre-tax profit for the three months to the end of June to $609m, compared to $2.25bn in the same quarter the previous year. Second quarter earnings per share were down to 31.6 cents from 33.1 cents the year before.

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