28th Oct 2009 07:00
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News Release |
28 October 2009
BG Group to Report in US Dollars from 2010
BG Group announced today that from financial year 2010 it will be changing the currency in which it reports its financial results to US Dollars. The Company currently reports in UK Sterling.
Ashley Almanza, Chief Financial Officer for BG Group said: "Following a period of sustained international growth, most of the Group's revenues are denominated in US Dollars and reporting in this way will better reflect the economic performance of BG Group. Reporting in US Dollars will also aid comparability between reporting periods and against BG Group's peer group."
"BG Group will declare its interim dividend for 2010 in US Dollars. There is no change in the currency of dividend payments and all shareholders will continue to be paid in Sterling reflecting the domicile of the majority of the Group's shareholders."
The timetable for the introduction of BG Group's change in financial reporting will be:
29 April 2010: First quarter 2010 results reported in US Dollars
April 2010: 2009 Annual Report and Accounts in Sterling to include summarised financial
statement in US Dollars
April 2011: 2010 Annual Report and Accounts in US Dollars
-ends- Notes to Editors:
BG Group plc (LSE: BG.L) is a world leader in natural gas, with a strategy focused on connecting competitively-priced resources to specific, high-value markets. Active in 27 countries on five continents, BG Group has a broad portfolio of exploration and production, Liquefied Natural Gas (LNG), transmission and distribution and power generation business interests. It combines a deep understanding of gas markets with a proven track record in finding and commercialising reserves. For further information visit: www.bg-group.com
Picture Desks:
For images of BG Group visit: www.vismedia.co.uk (requires additional registration)
Contact:
Edel McCaffrey: +44 (0) 118 929 3508 [email protected]
Jo Thethi: +44 (0) 118 929 3110 [email protected]
Out of Hours Media Mobile: +44 (0) 7917 185 707
Investor Relations: +44 (0) 118 929 3025 [email protected]
There are matters discussed in this media information that are forward looking statements. Such statements are only predictions and actual events or results may differ materially. For a discussion of important factors which could cause actual results to differ from the forward looking statements, refer to BG Group's annual report and accounts for the year ended 31 December 2008. BG Group does not undertake any obligation to update publicly, or revise, forward looking statements, whether as a result of new information, future events or otherwise, except to the extent legally required.
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