Golar Lng Partners Lp (GMLP) has reported 24.94 percent rise in profit for the quarter ended Dec. 31, 2016. The company has earned $71.44 million in the quarter, compared with $57.18 million for the same period last year. Revenue during the quarter went down marginally by 0.04 percent to $114.94 million from $114.99 million in the previous year period. Total expenses were 37.28 percent of quarterly revenues, down from 45.14 percent for the same period last year. This has led to an improvement of 786 basis points in operating margin to 62.72 percent.
Operating income for the quarter was $72.09 million, compared with $63.09 million in the previous year period.
Operating cash flow improvesGolar Lng Partners Lp has generated cash of $261.01 million from operating activities during the year, up 22.99 percent or $48.78 million, when compared with the last year. The company has spent $107.25 million cash to meet investing activities during the year as against cash inflow of $0.73 million in the last year.
The company has spent $128.74 million cash to carry out financing activities during the year as against cash outgo of $271.28 million in the last year period.
Cash and cash equivalents stood at $65.71 million as on Dec. 31, 2016, up 61.51 percent or $25.02 million from $40.69 million on Dec. 31, 2015.
Debt moves up marginally
Golar Lng Partners Lp has witnessed an increase in total debt over the last one year. It stood at $1,492.46 million as on Dec. 31, 2016, up 1.24 percent or $18.24 million from $1,474.22 million on Dec. 31, 2015. Interest coverage ratio deteriorated to 4.57 for the quarter from 4.41 for the same period last year.
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