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Slovnaft posts huge profit

OIL refinery Slovnaft posted a Sk10.1 billion (€265 million) net profit last year, which represents a 325 percent increase year-on-year.

Slovnaft's general director Vratko Kaššovic said that the results are proof that the effective processing of Russian oil to products with high added value was the key to the economic results, business daily Hospodárske noviny wrote.

Slovnaft's sales reached Sk85.1 billion (€2.2 billion) and the refinery invested Sk6.9 billion last year (€181 million).

Compiled by Martina Jurinová from press reports
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