Slovenia's Petrol Q1 net profit rises 2% as sales jump (updated)

Petrol dd Ljubljana

17/05/2019 08:12

(Updates with quote, details)
    LJUBLJANA, May 17 (Reuters) - Slovenia's largest fuel
retailer Petrol  PETG.LJ  said on Friday its group net profit
rose 2 percent in the first quarter to 18.2 million euros
($20.34 million), and maintained its target for higher earnings
in the full year. 
    A 19% increase in sales in the first three months of the
year to 1.36 million euros fed into higher profit, the company
said. Sales of oil products increased by 24% year-on-year when
measured in tonnes.
    Petrol confirmed its goals for 2019, originally made in
December, for full-year net profit to rise 5.3 percent to 96.7
million euros on sales of 5.6 billion, up 3.7 percent.
 urn:newsml:reuters.com:*:nL8N1YJ14F
    "In Slovenia and Croatia economic conditions are improving
while in the other South European states, which are Petrol's
markets, the economic conditions are still demanding amid low
purchasing power and high unemployment," Petrol said.
     The company operates 505 fuel stations in Slovenia,
Croatia, Bosnia, Serbia, Montenegro and Kosovo.

($1 = 0.8948 euros)

 (Reporting by Marja Novak; Editing by Jan Harvey)
 ((Marja.Novak@thomsonreuters.com; +386-1-5058805, Reuters
Messaging: marja.novak.thomsonreuters.com@reuters.net))