Business News

Petrol Forecasts 11% Rise in Revenues in 2010

Ljubljana, 18 December (STA) - Energy group Petrol has said it is expecting to generate revenues of EUR 2.5bn in 2010, a rise of 11% on this year. Profit is forecast to stand at EUR 43.2m, which is a 6% increase on 2009.

In a statement issued after Thursday's meeting of the supervisory board, Slovenia's largest fuel retailer said it was expecting the tough business conditions to persist next year.

The focus of the group will be on increasing efficiency of operations and cutting costs. It will also seek to secure non-banking sources of financing in a bid to pursue its expansion plans, including the construction of new petrol stations, and ensure financial stability.

Forecasts for 2010 see the energy group selling 2.23m tonnes of petroleum products, a rise of 3% on this year.

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