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CORPORATE NEWS

Benzinol posted 266.7m Sk after-tax income in 1996

Benzinol Inc., Bratislava, a petrol distribution chain, posted an after-tax income of 266.7 million Sk on 16.5 billion Sk sales in 1996. The company thus succeeded in recovering from its high 1995 loss. It currently owns 201 petrol stations throughout Slovakia, representing a roughly 40 percent market share. It invested 126 million Sk last year (total investments reached 326.7 million Sk) in upgrading its petrol station chain, and it plans to invest 700 million Sk more this year (total investments will be 1 million Sk). The average wage in the company reached 11,480 Sk last year. Its shareholders are Slovnat (51 percent), Slovenská sporiteľňa (34 percent), and the FNM (12 percent), with the latter planning to sell its stake to a Benzinol employee company soon.

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