Slovenia's Petrol reports rise in profits despite lower oil price (updated)

Petrol dd Ljubljana

11/03/2016 07:51

* Profit up by 8 pct 
    * Sales down by 5 pct 
 
 (Adds quote, details, background) 
    LJUBLJANA, March 11 (Reuters) - Group net profits at Petrol 
 PETG.LJ , Slovenia's largest fuel retailer, rose to 65.3 
million euros last year, up from 60.7 million in 2014, despite 
sales falling 5 percent to 3.8 billion euros as a result of 
lower prices, the company said on Friday. 
    However, the company said market conditions remain tough. 
    "Slovenia, which remains Petrol's main market, returned to 
growth recently but economic conditions are still demanding ... 
Croatia and other states of southeastern Europe are facing very 
difficult economic conditions and low purchasing power," it 
said. 
    Sales of oil products increased by 6 percent in 2015 to 3 
million tonnes, while sales of other retail products were up by 
2 percent. Petrol operates 487 filling stations in Slovenia, 
Croatia, Bosnia, Serbia, Montenegro and Kosovo. 
 
 (Reporting By Marja Novak; Editing by Greg Mahlich) 
 ((Marja.Novak@thomsonreuters.com; +386-1-5058805; Reuters 
Messaging: marja.novak.thomsonreuters.com@reuters.net)) 
 
Keywords: SLOVENIA PETROL/