Petrol's profit tumbled nearly 41% last year, according to the company's non-consolidated report. The fuel distributor reported 9.96 mln leva (5.092 mln euros) for 2007, versus 16.85 mln leva (8.615 mln euros) in 2006.
The decline happens in spite of a significant hike in revenues, which grew from 664.35 mln leva to 815.84 mln leva (417.13 mln euros).
The result may be explained by the rising costs – from 644.1 mln to 804.65 mln leva (411.41 mln euros).
Interest costs rose the most (by 10.5 mln leva) as well as the negative results from operations with financial instruments (down 22 mln leva).
Despite the not very convincing report, shares added 4.5% to 5.99 leva this morning. 28,000 shares have changed hands so far today, bids are currently at 5.6 leva and asks at 5.8 leva.