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Slovnaft's net profit fell 56 percent y-o-y in January

Slovakia's oil refinery Slovnaft recorded an operating profit of Sk3.29 billion (€109.21 million) in the first three-quarters of 2008, while its net profit in the same period stood at Sk2.68 billion (€88.96 million). Both figures represent a fall of 56-percent year-on-year, Slovnaft spokesman Anton Molnar told the TASR newswire on November 18. The strengthening of the Slovak crown by 18 percent against the US dollar and by 7 percent against the euro, along with a significant fall in oil prices in 3Q08, contributed to these developments. Total domestic sales of refinery products grew by 8.7 percent year-on-year in the first nine months of this year, while total export sales were down 6.7 percent year-on-year. TASR

Slovakia's oil refinery Slovnaft recorded an operating profit of Sk3.29 billion (€109.21 million) in the first three-quarters of 2008, while its net profit in the same period stood at Sk2.68 billion (€88.96 million). Both figures represent a fall of 56-percent year-on-year, Slovnaft spokesman Anton Molnar told the TASR newswire on November 18.

The strengthening of the Slovak crown by 18 percent against the US dollar and by 7 percent against the euro, along with a significant fall in oil prices in 3Q08, contributed to these developments. Total domestic sales of refinery products grew by 8.7 percent year-on-year in the first nine months of this year, while total export sales were down 6.7 percent year-on-year. TASR

Compiled by Zuzana Vilikovská from press reports
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