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