Conpet Ploiesti Turnover Grows 2.2% in 2018, Profit Drops 20%

State-run oil transporter Conpet Ploiesti (COTE.RO) on Thursday reported a turnover of RON385 million for 2018, up 2.2% compared with 2017.

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Imaginea articolului Conpet Ploiesti Turnover Grows 2.2% in 2018, Profit Drops 20%

Conpet Ploiesti Turnover Grows 2.2% in 2018, Profit Drops 20%

Its net profit dropped 20%, to RON59 million.

It said exploitation revenue grew 1.8%, to RON418.44 million, as revenues from transport increased 2.2%.

Exploitation expenses grew 7.8% on the year in 2018, mainly due to wage raises as of January 2018.

Conpet's exploitation profit in 2018 stood at RON64.83 million, down 22% compared with 2017.

Conpet is 58.71% owned by the Romanian state and has a stock market value of RON692 million.

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