SPP racks up strong profit

THE SPP gas utility recorded a pre-tax profit of Sk3.9 billion ($85 million) in the first quarter of 2002 on Sk18.7 billion in turnover, a massive improvement on a Sk180 million loss in the same period in 2001. The result came on lower costs through a more stable crown and lower world oil prices, as well as higher revenues from increased market prices and a rise in transit fees.