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CORPORATE BRIEFS

Well-regarded Slovnaft's profits tumble in first half of 1998

The refinery Slovnaft a.s. saw its pre-tax profits fall to 1.0 billion Sk ($28,6 million) in the first half of 1998 from 1.4 billion Sk ($40 million) in the same period last year. According to preliminary data provided by the company, turnover was 18.2 billion Sk ($520 million) for 1H98 compared with 19.1 billion Sk ($545.7 million) in 1H97, while 2.7 million tonnes of crude oil were processed in 1H98 compared with 2.5 million tonnes in the same period last year. Slovnaft is the most heavily capitalised share on the Bratislava bourse, accounting for around 30% of the SAX index's total capitalisation.

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