OMV Petrom Group sees profit down 25pct in H1 to around 1.04 bln lei

OMV Petrom Group sees profit down 25pct in H1 to around 1.04 bln lei

OMV Petrom Group posted 1.036 billion lei in net profit in the first half-year, down 25 percent from 1.387 billion lei in net profit reported over last Jan.-June, show the IFRS consolidated preliminary financial results made public on Wednesday.

OMV Petrom sales totalled 8.811 billion lei by this mid-year, marking 18 percent drop from 10.719 billion lei in the first half of 2014.

The Group’s operating profit (EBIT) stood at 1.280 billion lei, down 39 percent from 2.098 billion lei over Jan.-June 2014.

The profit per share in this H1 amounted to 0.0184 lei, by 25 percent less than in the same period a year ago, when it stood at 0.0245 lei.

Investments totalled 2.069 billion lei, recording 29 percent shrinkage from 2.906 billion lei in the last H1. More…