Wednesday, December 13, 2017

Hellenic Petroleum Q1 Core Profit Rises 35$

Posted by May 17, 2017

Photo: Hellenic Petroleum

Greece's biggest oil refiner Hellenic Petroleum posted on Wednesday a 35 percent rise in first-quarter core profit thanks to stronger production capacity and robust demand for heating oil at home.

Core profit, or underlying earnings before interest, tax, depreciation and amortisation (EBITDA) - stripping out oil inventory holdings - came in at 229 million euros ($254.46 million), beating analysts average forecast of 216.4 million euros in a Reuters poll.

Net profit rose 80 percent to 126 million euros. Stronger production capacity thanks to the turnaround of one of its three oil refineries boosted results.
(Reporting by Angeliki Koutantou)

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