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Slovenia's Petrol Sees Net Profit Up 16%

Slovenian fuel retailer Petrol has reported a 16% rise in group net profit to €80.1 million for the first nine months of 2019 helped by higher sales, it said on Friday.

Sales rose 10% to €4.2 billion, it said, with sales of oil products up 15% to 2.9 million tons and sales of gas and electricity up 16%.

Economic Situation

"In Slovenia and Croatia the economic situation is improving, but other Southeastern European countries which also make up Petrol's market still face demanding economic conditions, low purchasing power and high unemployment," Petrol said.

It confirmed its plan, announced in December last year, for full-year profit to reach €96.7 million compared with €91.8 million in 2018 on sales of €5.6 billion.

Petrol operates 507 filling stations in Slovenia, Croatia, Bosnia, Serbia, Montenegro and Kosovo and plans to open eight more by the end of the year.

News by Reuters, edited by ESM. Click subscribe to sign up to ESM: European Supermarket Magazine.

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