Slovenian fuel retailer Petrol's Q1 net profit rises 11 pct (updated)

Petrol dd Ljubljana

18/05/2018 07:58

(Updates with quote, details)
    LJUBLJANA, May 18 (Reuters) - Slovenia's largest fuel
retailer Petrol  PETG.LJ  reported an 11 percent rise in
first-quarter net profit on Friday, helped by higher sales of
gas after the company acquired local gas supplier Geoplin last
year. 
    It also said it expanded sales of sold food, drinks and
other products at its fuel stations.
    Petrol, which operates nearly 500 fuel stations across
Slovenia, Croatia, Bosnia, Serbia, Montenegro and Kosovo, said
net profit for January-March totalled 17.9 million euros ($21
million) as sales rose by 6 percent from a year earlier to 1.2
billion euros.
    The company said it was undergoing a complete renewal of its
information technology system which would help it to remain
competitive. Its main competitors include OMV  OMVV.VI  in
Slovenia and INA  INA.ZA  in Croatia.
    "The Petrol group will continue with its active sales
policy, optimisation of all business processes and efficient
risk management. The achieved results show that the group is
successful in pursuing its goals," the company said in a
statement.
    
    
 ($1 = 0.8469 euros)

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