Slovenia's Petrol posts 2 pct fall in first-half profit (updated)

Petrol dd Ljubljana

29/08/2014 07:45

* Reports first-half net profit of 23.9 mln euros 
    * Sales down by 1 pct 
 
 (Adds detail, quote) 
    LJUBLJANA, Aug 29 (Reuters) - Slovenia's largest fuel 
retailer Petrol  PETG.LJ  reported first-half group net profit 
down 2 percent to 23.9 million euros ($31.5 million), hit by 
competition and an economic slowdown in its markets. 
    "Slovenia and Croatia, which are Petrol's largest markets, 
have for some years been facing difficult economic conditions 
which are reflected in the fall of economic activity, poor 
payment discipline, poor liquidity and bankruptcies of 
companies, lower private consumption and higher unemployment," 
Petrol said on Friday.  
    It said sales reached 1.9 billion euros and were 1 percent 
lower than in the same period last year. 
    Sales of oil products fell by 3 percent to 1.3 million 
tonnes in the first six months of the year, partly attributable 
to a mild winter.             
    The company operates 480 filling stations in Slovenia, 
Croatia, Serbia, Bosnia, Montenegro and Kosovo. 
(1 US dollar = 0.7594 euro) 
 
 (Reporting by Marja Novak; Editing by David Goodman) 
 ((Marja.Novak@thomsonreuters.com; +386-8-205-6369; Reuters 
Messaging: marja.novak.thomsonreuters.com@reuters.net)) 
 
Keywords: SLOVENIA PETROL/