Petrom"s profit doubles in H1, but fails to reach expectations - Azi

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Petrom, the largest Romanian company, reported net profit worth 687 million RON (188.2 million euros) in the second quarter of the year, up 36% against the same time last year, whilst turnover amounted to 4.5 billion RON (1.2 billion euros), up 70%.Petrom"s net earnings are below analysts" expectations and were affected by the inclusion of extraordinary expenses.

The expenses were so high that earnings derived from higher oil prices, which reached historic highs in the second quarter, were...

Read the whole story in: Ziarul Financiar