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August 17, 2022

Rompetrol posts net profit of USD 0.9 M in Q1

Rometrol group posted a net profit of USD 900,000 in the first quarter of the year, up from losses of USD 56.2 M a year ago, now being the first time when it switched to profit after more than three years of negative results, Mediafax reports. The turnover of the group increased by 29 pc, from USD 1.58 bln to USD 2.03 bln, reads a release sent to the Bucharest Stock Exchange (BVB) yesterday. The group posted an operational profit of USD 47.5 M, while in Q1 2010 it registered losses of USD 7.5 M. Rompetrol Rafinare, the biggest division of the group, reported a loss of USD 11.3 M, five times smaller than the negative result of USD 57.3 M in the similar interval of last year. The refinery controlled by the group had an operational profit of USD 46.1 M, following losses of USD 19.6 M in Q1 2010. The consolidated turnover of Rompetrol Rafinare rose by 27 pc, from USD 841.9 M to USD 1.07 bln. The consolidated figures of Rompetrol Rafinare are preliminary, as they include the results of Rompetrol Rafinare and its subsidiaries, and may suffer modifications until May 12, when the final figures must be released.

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