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Slovnaft Group increases first half profit by 153 percent

SLOVAKIA’s Slovnaft Group increased its net profit for the first half of 2004 by 153 percent to Sk4.15 billion (€103.79 million), the Bratislava-based oil refiner and filling station operator reported to the news agency TASR.

According to non-audited consolidated financial reports worked out in keeping with the International Financial Reporting Standards, the group's operational profit rose by 176 percent to Sk4.95 billion (€123.8 million). Earnings before interest, taxation, depreciation, and amortisation went up 83 percent to stand at Sk6.58 billion (€164.57 million) at the end of June.

Sales revenues totalled Sk35.76 billion (€894.36 million), up by 9 percent year-on-year, but the financial operations profit fell 91 percent to Sk40.4 million (€1.01 million).

The Slovnaft Group is a member of the Hungarian oil concern MOL.

Compiled by Marta Ďurianová from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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