Romanian OMV Petrom reports record quarterly profit and 24% turnover growth
The company's nine-month profit was of EUR 687 million, while its turnover grew to EUR 3.8 billion – an advance of 23 percent.
"Overall, in Q3/11 we continued to benefit from a favorable crude price environment and the positive effects fostered by our strict cost management programs and improved operational performance. […] In a still challenging economic environment, we continue our cost management initiatives and financial discipline to ensure sound operational performance and improved cost position even in a potentially deteriorated market environment,” said Mariana Gheorghe, CEO of OMV Petrom (in picture).
Read the full financial report here.
Corina Saceanu, corina@romania-insider.com