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Bulgaria's Petrol turns to 9-mo cons net loss, lowers revenue

Author Mario Tanev
Bulgaria's Petrol turns to 9-mo cons net loss, lowers revenue wrangler/Shutterstock.com

SOFIA (Bulgaria), December 2 (SeeNews) - Bulgarian fuel retailer Petrol [BUL:5PET] said that it turned to a consolidated net loss of 3.7 million levs ($2.1 million/1.9 million euro) in the January-September period of 2019 from a net profit of 61 million levs in the same period of last year.

Petrol's expenses grew to 417.5 million levs in the first nine months of the year from 398.7 million levs in the prior-year period, the company said in an interim financial statement on Friday.

The company's revenue decreased to 413.8 million levs in the review period from 459.6 million levs the year before.

Petrol's revenue in 2018 was positively impacted by the sale of the company's subsidiary Elit Petrol.

Petrol operates over 300 fuel stations in Bulgaria.

(1 euro = 1.95583 levs)

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