Business News

Petrol Reports Surge in Net Profit

Ljubljana, 27 August (STA) - Energy group Petrol made a net profit of EUR 22.4m in the first half of the year, which is up 157% on the comparable figure last year, while sales revenues rose by 16% to EUR 1.3bn.

The net profit exceeded the planned figure by 20%, while revenues trumped the target by 12%, the company said in a press release on Friday.

The group's gross profit stood at EUR 139.8m, 1% more than in January-June period last year and 3% above the plan.

In the first six months Petrol Group sold 1.1 million tonnes of petroleum products, which is down 4% year-on-year.

Merchandise sales revenues increased by 11% to EUR 205m compared to the same period in 2009.

At the end of June, the Petrol proup operated over 436 filling stations, of which 312 in Slovenia, 75 in Croatia, 40 in Bosnia-Herzegovina, four in Kosovo, three in Serbia, and two in Montenegro.

Petrol sold nearly 60 million cubic metres of natural gas, 4% more than in the same period in 2009, and over 22,000 tonnes of liquid petroleum gas, 1% down year-on-year.

The group also sold 170,000 MWh of electricity, boosting electricity sales by 50% compared to the year before.

The supervisory board of the Slovenia's biggest energy firm confirmed the semi-annual report on Thursday, noting that the group's operation had been successful.

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