Slovenian fuel retailer Petrol reports 12 pct rise in 2017 profit (updated)

Petrol dd Ljubljana

07/03/2018 07:47

(Updates with quote, details)
    LJUBLJANA, March 7 (Reuters) - Slovenia's largest fuel
retailer Petrol  PETG.LJ  reported a group net profit of 81.1
million euros ($101 million) in 2017, up from 72.7 million a
year earlier, boosted by higher sales.
    Sales rose to 4.5 billion euros from 3.9 billion.
    "The economic situation on the markets where the Petrol
group operates improved in 2017," Chief Executive Tomaz
Berlocnik said in a statement. "However, the effects of economic
growth have not yet been fully passed on to the
population’s purchasing power." 
    Petrol operates 495 filling stations in Slovenia, Croatia,
Serbia, Bosnia, Montenegro and Kosovo.
    The company confirmed its target to reach net profit of 97
million euros in 2020 on sales of 4.3 billion euros. Profit in
2018 is expected to rise to 86.9 million euros. 
   
    ($1 = 0.8053 euros)

 (Reporting by Marja Novak; editing by Jason Neely and Louise
Heavens)
 ((Marja.Novak@thomsonreuters.com; +386-1-5058805, Reuters
Messaging: marja.novak.thomsonreuters.com@reuters.net))