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Petrol Group Reports EUR 9.8M Net Profit for Q1

Ljubljana, 17 May (STA) - The group around Slovenia's largest energy company Petrol increased its gross profit by 14% to EUR 78m in the first quarter of 2011 compared to the same period last year, while net profit was up 7% to EUR 9.8m, Petrol said in a press release on Tuesday.

The group's net sales revenues amounted to EUR 749.3m in the first three months of 2011, up 23% year-on-year.

The Petrol group sold 547,300 tonnes of petroleum products in the January-March period, which is 8% more than in the same period last year.

Revenues from sales of merchandise amounted to EUR 109.9m, 3% up on the first quarter of 2010, the company said after a session of the supervisory board.

At the end of March, Petrol operated 442 service stations, of which 313 in Slovenia, 80 in Croatia, 38 in Bosnia and Herzegovina, 5 in Serbia, 3 in Kosovo and 3 in Montenegro.

The group sold 50 million cubic metres of natural gas, up 9%, and 13,000 tonnes of liquefied petroleum gas, up 6% on the same period last year.

The Petrol Group also sold 253,300 MWh of electricity, exceeding by 186% the quantities sold in Q1 of 2010.

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