Business News

Petrol Nearly Doubles Nine-Month Profit

Ljubljana, 24 November (STA) - Energy group Petrol reported EUR 2bn in net sales revenues for the first three quarters of the year, an 18% increase on the same period last year. Net profit was up 82% year-on-year to EUR 34.7m.

The sales revenues generated are 12% above the target, while net profit trumped the planned figure by 8%, the company said on Wednesday, a day after the 9-month operating results were reviewed by the supervisory board.

The group generated EUR 215.4m in gross profit, which is 2% up year-on-year and 3% more than planned, a release from Petrol said, adding that the supervisory board assessed the performance as successful.

The sales of oil products were up 3% year-on-year to 1.7 million tonnes, while revenues from sales of merchandise rose by 10% to EUR 313m.

At the end of September, Petrol operated 439 service stations, 313 of them in Slovenia, 78 in Croatia, 38 in Bosnia-Herzegovina, four in Serbia and three each in Kosovo and Montenegro.

The group sold 68.1 million cubic metres of natural gas and 34.2 thousand tonnes of liquefied petroleum gas in the three quarters, which is up 5% and 2%, respectively, on the same period last year.

Electricity sales were up 56% to 244 thousand MWh. The group also operated 28 gas supply concessions.

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