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Athens News Agency: News in English, 12-02-24

Athens News Agency: News in English Directory - Previous Article - Next Article

From: The Athens News Agency at <http://www.ana.gr/>

CONTENTS

  • [01] Hellenic Petroleum group reports lower 2011 profits

  • [01] Hellenic Petroleum group reports lower 2011 profits

    Hellenic Petroleum group on Thursday said its net profits totaled 114 million euros in 2011, down from 180 million euros in the previous year, while it stressed that the group reported losses totaling 48 million euros in the fourth quarter of 2011.

    “A crisis in the Greek economy and the impact of higher fuel taxes imposed in 2010 led to a further decline in domestic demand, with fuel sales falling 11 pct,” the group said in an announcement. amna

    Hellenic Petroleum said its refineries in Elefsina and Thessaloniki remained closed for the biggest part of 2011 due to upgrading. amna

    G. Kostopoulos, chief executive of the group, commenting on the results, said the “refinery upgrade programme was completed according to schedule”.

    He stressed that 2012 will become a positive turning point for the group in its efforts to raise profits and create value for shareholders.


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