Slovenia's Petrol 9-month net profit up 6 pct, sales down (updated)

Petrol dd Ljubljana

20/11/2015 07:47

(Updates with quote, details) 
    LJUBLJANA, Nov 20 (Reuters) - Slovenia's largest fuel 
retailer Petrol  PETG.LJ  made a group net profit of 48.5 
million euros ($51.9 million) in the first nine months of 2015 
versus 45.7 million euros in the same period of 2014, the 
company said in a statement on Friday. 
    Net sales fell by 4 percent to 2.8 billion euros, it said, 
partly due to higher oil prices in Slovenia than in most 
neighbouring countries on account of larger excise duties. 
    "Croatia and other countries in southeastern Europe, which 
are Petrol's markets, are still facing very difficult economic 
conditions, low purchasing power, high unemployment and poor 
payment discipline," it said. 
    Petrol operates 482 filling stations in Slovenia, Croatia, 
Serbia, Bosnia, Montenegro and Kosovo. 
    The company will on Dec. 11 reveal its business forecast for 
2016. 
    ($1 = 0.9341 euros) 
 
 (Reporting by Marja Novak; Editing by Mark Potter) 
 ((Marja.Novak@thomsonreuters.com; +386-1-5058805; Reuters 
Messaging: marja.novak.thomsonreuters.com@reuters.net)) 
 
Keywords: PETROL RESULT/