Petrol Reports Bumper Revenues, Profit

Date: 08/27/2008
Category: Latest news

Ljubljana, 27 August (STA) - Energy group Petrol has generated EUR 1.4bn in sales revenues in the first half of 2008, which is 51% more than in the same period last year. The group said in Wednesday's press release that its net profit in this period had risen 33% to EUR 30.8m.

The supervisory board of Slovenia's biggest fuel retailer has already studied the results, assessing them as successful. The group sold 1.2 million tonnes of fuel and other crude oil products, which is 29% more than in the first six months of 2007. Sales at Petrol's shops at petrol stations generated EUR 164.3m, up 41% on the first half of 2007. The group operates a total of 415 petrol stations, including 310 in Slovenia. The rest are in the former Yugoslav republics, where Petrol has been pursuing an expansion strategy of late. Meanwhile, the fastest growing segment for the company was sales of natural gas, as growth in this area stood at nearly 200%. The company's management is expected to speak about the results to the press later today. The earnings report from Petrol came after the close of trading on the Ljubljana Stock Exchange. Petrol shares lost 0.48% to EUR 499.51 in the session.