BG to Alter Financial Reporting to Reflect Brazil, Australia Growth


LONDON, April 21 (Reuters) – BG Group said on Tuesday it will adjust some of its financial reporting to better reflect the growing importance of its Brazilian and Australian operations.

The gas producer, which is being acquired in a $70 billion takeover deal by Shell, will give more prominence to earnings before interest, tax, depreciation and amortisation (EBITDA) and return on average capital employed (ROACE) as performance indicators, it said.

The changes will apply from May 8, when the firm reports first-quarter results.

"They also reflect the growing importance of Brazil and Australia on the Group's performance," BG said in a statement.

Within its upstream financial reporting segment, BG will start disclosing financial details about its liquefied natural gas (LNG) business, including its newly opened QCLNG facility in Australia.

(Reporting by Karolin Schaps; editing by Jason Neely)



Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.